Novo Nordisk, a Danish pharmaceutical giant, has announced strong growth in its turnover and operating profit for the January-March period. The company reported a 22 percent increase in turnover to 65.3 billion Danish kroner (approximately 8.76 billion euros) compared to 53.4 billion kroner in the same period the previous year. This is significantly higher than analyst forecasts of 63.7 billion kroner for this quarter.
The growth is attributed to drugs developed for diabetes and obesity, such as Wegowy and Ozempic, which saw sales increase by 25 percent from the comparison period. The company also saw a 34 percent rise in turnover in North America.
In response to its strong performance, Novo Nordisk has increased its profit guidance for the year, now expecting turnover growth of 19-27 percent, up from the previous guidance of 18-26 percent. Operating profit growth is also expected to be higher at 22-30 percent, compared to the previous estimate of 21-29 percent.
Novo Nordisk’s CEO, Lars Fruergaard Jørgensen, expressed satisfaction with the sales development, noting that more patients are benefiting from their innovative treatments and that recent acquisitions of production facilities will help serve a larger population. He added that the company’s research department has seen positive results in trials for their drugs, including semaglutide’s effects on the kidneys and expanded uses for Wegowy in preventing cardiovascular diseases in the United States.
With these successes and developments, Novo Nordisk remains on track for continued growth and innovation in the pharmaceutical industry. The company recently acquired three production facilities from Catalent, further expanding its capabilities to reach people suffering from diabetes and obesity.
Overall, Novo Nordisk’s rapid growth is an impressive achievement and suggests that it remains well positioned to continue its success in the years ahead.
