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Home Industry News Novo Nordisk Q1 Report Shows 30% Rise in Operating Profit

Novo Nordisk Q1 Report Shows 30% Rise in Operating Profit

5th May 2023

All numbers are in Danish kroner unless stated otherwise.

The company’s total operating profit rose by over 30%.

Operations in North America saw a 47% rise in sales, partially influenced by changes in wholesaler inventory management. Whereas total global operations experienced a 9% rise in sales.

Sales in the diabetes and obesity care sector climbed by one third, mostly due to a 54% increase in GLP-1 diabetes sales. Rare diseases related revenues dropped by 15% as a result of a brief decline in production levels.

Obesity care related revenue increased by 131% to DKK 7.8 billion, mostly due to the US market acceptance of Wegovy®. Wegovy®’s output potential also increased significantly when it began being produced in a second factory in April 2023.

In regard to R&D developments, Novo Nordisk recently conducted a PIONEER PLUS phase 3 trial with oral semaglutide. The outcome of this was positive, exhibiting greater weight loss and HbA1c reductions compared to other measured levels of the drug in type 2 diabetic patients.

Novo’s CEO, Lars Fruergaard Jørgensen, said that they are “very pleased with the sales growth in the first three months of 2023. The sales momentum and continued expansion of the supply capacity have enabled us to raise the outlook for the full year.”

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