(Boursier.com) — Novo Nordisk gained another 1.2% this Friday to 719 Danish crowns, or 1.4% on Wall Street over $101. The Danish pharmaceutical group, the largest European market capitalization at 437 billion euros now, has raised its profit and revenue estimates with the success of its treatments for weight loss and diabetes (Wegovy and Ozempic). The group now expects turnover growth of 32 to 38% this year, compared to 27-33% previously at constant exchange rates. It also envisages growth in 2023 operating profit ranging from 40 to 46%, compared to 31-37% previously. Ozempic, the group’s diabetes treatment also sometimes prescribed for weight loss, and Wegovy which targets obesity, therefore still support the accounts. The new forecasts mainly reflect the anticipation of higher sales of Ozempic in the United States.
For its third quarter, the group posted revenue growth of 38% and an increase of 47% in operating profit.
©2023 Boursier.com