Novo Nordisk has updated its 2024 outlook, now expecting sales growth of 19%-27% and operating profit growth of 22%-30%, both at CER. This update reflects adjustments related to gross-to-net sales in the US and is driven by volume growth of GLP-1-based treatments for Obesity and Diabetes care. The company anticipates continued pricing pressure in these areas but expects the increased sales outlook to partially offset an expected loss on other operating income and expenses. Investments in R&D and commercial activities, particularly in Obesity care and GLP-1 diabetes care, are highlighted. Financial items are expected to result in a loss due to foreign exchange hedging contracts, with the effective tax rate remaining at 19%-21% and capital expenditure at DKK 45 billion for supply chain expansion.