Novo Nordisk quintuples sales of weight loss drug

Novo Nordisk’s weight loss drug Wegovy has achieved robust sales, generating over 31 billion Danish kroner last year and quintupling its previous year’s sales. This surge has significantly contributed to the firm’s annual revenue of 232 billion kroner, up 31%. While diabetes medication still accounts for three-quarters of total sales, with Ozempic leading the pack at 95.7 billion kroner, Wegovy has become a noteworthy contributor. The company’s after-tax profit soared to 83.7 billion kroner, up by 51%. In the face of this success, CEO Lars Fruergaard Jørgensen is committed to expanding patient reach and advancing the company’s product pipeline in 2024. With enhanced production capacity in sight, Novo Nordisk forecasts an 18-26% increase in revenue and a 21-29% growth in operating profit for the coming year.