Ozempic maker is worth $500 billion.

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  • The maker of weight loss drug Wegovy and diabetes drug Ozempic reported an increase in sales of 31% in Danish kroner and 36% at constant exchange rates to 232.3 billion kroner ($33.71 billion).
  • The 2023 results were fueled by strong performance in the company’s diabetes and obesity care division, with the latter in particular soaring by 154% at CER to 41.6 billion kroner.
  • Novo’s valuation rose to $506 billion at 08:06 GMT, according to CNBC’s calculation of LSEG data.
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Novo Nordisk on Wednesday reported better-than-expected 2023 earnings, as sales of its wildly popular anti-obesity and diabetes drugs continued to soar.

The maker of weight loss drug Wegovy and diabetes drug Ozempic reported an increase in sales of 31% in Danish kroner and 36% at constant exchange rates to 232.3 billion kroner ($33.71 billion).

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Full-year operating profit jumped by 37% in kroner and 44% at constant exchange rates to 102.6 billion kroner.

The Danish pharmaceutical giant said it expects sales growth this year of between 18% and 26% in CER terms, as demand surges for Wegovy and Ozempic, which contain the same active ingredient.

www.cnbc.com/2024/01/31/novo-nordisk-beats-earnings-expectations-as-wegovy-ozempic-demand-soars.html

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