Pharma: Novo Nordisk increases quarterly profit and raises forecasts
The Wegovy manufacturer is earning significantly more than expected and is looking at 2026 with increased optimism. The boom in weight loss medications continues.
Copenhagen - Danish pharmaceutical company Novo Nordisk reported a higher quarterly profit and raised its annual earnings and revenue forecasts for the year in its latest earnings report. The manufacturer of the weight loss drug Wegovy announced a net operating profit of 33.4 billion Danish Kroner (approximately 4.5 billion Euros) for the quarter, which was 11% higher than the previous year's figure.
Analysts had estimated the figure to be around 28.7 billion Kroner. Excluded from the profit were 6.3 billion Kroner in write-offs for the drug pipeline, including 4 billion for the experimental weight loss pill Monlunabant. Novo Nordisk is competing with US company Eli Lilly for dominance in the lucrative market for weight loss drugs, which analysts estimate could reach over $100 billion per year by 2030.
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