Novo Nordisk’s Revenue Grew 25% Between Jan & March 2023

Novo Nordisk has recently revealed that their revenue and operating profit for January, February, and March of this year has increased when viewing in terms of constant currency. As a result, their total 2023 prediction for the growth of their revenue and operating profit has been increased.

Novo Nordisk had a 25% growth in revenue and a 28% increase in operating profit across the period in question, both in constant currency. The significant rise in revenue in the US was partially attributed to the wholesaler inventory management.

One of the drivers behind the boosted 2023 sales projection is their Wegovy® prescription. Patterns are showing positive growth for this drug across Q1 and the company predicts this will result in larger inbound revenues in the US, spanning the whole year A second facility is also prepared to start producing this product, which will increase the volume output.

Additionally, they forecast increased Ozempic® sales, primarily in the US, as a result of a rapid rise in product volume.

On the 4th May, Novo Nordisk will publish a report of its financial performance for the first quarter of the year.

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