Ozempic Weight Loss Drug Maker Is Making Money Hand Over Fist - And Just Raised Its Profit Forecast
Portfolio Pulse from Vandana Singh
Novo Nordisk A/S (NYSE:NVO) has raised its FY23 guidance due to surging sales of its weight-loss drug Wegovy and diabetes treatment Ozempic. The company expects 2023 sales growth in local currencies of 32%-38%, up from 27% to 33% previously. Operating profit growth is projected at 40%-46%, up from 31%-37%. However, the company faces challenges in ramping up production to meet the high demand.
October 13, 2023 | 2:31 pm
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POSITIVE IMPACT
Novo Nordisk's raised FY23 guidance due to surging sales of its drugs Wegovy and Ozempic is likely to positively impact its stock price. However, production challenges could pose a risk.
The raised guidance indicates strong performance and growth potential, which is likely to attract investors and boost the stock price. However, the company's challenges in ramping up production to meet demand could pose a risk and potentially impact the stock negatively if not addressed.
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