Explore the latest developments concerning Novo Nordisk CFO.
Novo Nordisk CFO outlines ‘ultimate defense’ against stock downgrades and lawsuits to retain weight-loss crown
Eleanor Pringle is an award-winning senior reporter at Fortune covering news, the economy, and personal finance. Eleanor previously worked as a business correspondent and news editor in regional news in the U.K. She completed her journalism training with the Press Association after earning a degree from the University of East Anglia.
When Ozempic and Wegovy launched, their bombshell success was only going to be exclusive to their maker—Novo Nordisk—for a matter of time. While the Danish pharma giant holds the patents to these GLP-1 medications for the time being, some are due to expire as early as next year.
Ozempic maker Novo Nordisk lowers growth outlook for its weight loss drugs as pricing pressures mount
Danish pharmaceutical giant Novo Nordisk said Wednesday it is trimming its growth expectations for its leading obesity and diabetes treatments as competition intensifies and pricing pressures mount in the weight loss market.
Net profit for the quarter came in at 20 billion Danish kroner ($3.1 billion) in line with the 20.12 billion Danish kroner anticipated by analysts in a FactSet poll.
Diabetes and obesity care were a key growth driver following the uptake of Wegovy and Ozempic, however the company lowered its expectations for growth, citing prescription trends, competition and pricing pressure.
Novo narrowed its full-year guidance for the fourth time this year, saying it now expects sales growth within the range of 8% to 11% at constant exchange rates, compared to a previous forecast of 8% to 14%. It also lowered its expectations for operating profit growth of 4% to 10% to a new forecast of 4% to 7%.
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