Wegovy Maker Novo Nordisk's Obesity, Diabetes Drug Sales Hit Whopping $22B In Nine Months, Prepares To Expand Capacity
Portfolio Pulse from Vandana Singh
Novo Nordisk's Q3 FY23 sales rose 29% Y/Y to $8.58 billion, beating the consensus of $7.91 billion. Sales of obesity and diabetes drugs increased by 36% to $22 billion in the first nine months of the year. The company's profit before tax jumped 56% and earnings per share surged 58% to $0.73, beating the consensus of $0.71. Novo Nordisk is investing in internal and external capacity to increase supply both short and long-term.
November 02, 2023 | 1:43 pm
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Novo Nordisk's strong Q3 results, driven by increased sales of obesity and diabetes drugs, and plans to expand capacity could positively impact its stock.
Novo Nordisk's Q3 results exceeded expectations, driven by strong sales of obesity and diabetes drugs. The company's plans to invest in increasing supply capacity indicates confidence in continued demand for its products, which could positively impact investor sentiment and drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100