Novo shares jump as Wegovy pill sales impress, drugmaker hikes outlook
CNBC · Elsa Ohlen ·
Novo posted quarterly earnings ahead of expectations early Wednesday as sales of its Wegovy pill blew past estimates
Novo posted quarterly earnings ahead of expectations early Wednesday as sales of its Wegovy pill blew past estimates amid continued GLP-1 volume growth globally, sending shares up as much as 6% in early trading.
The company updated its outlook to now see adjusted revenue and operating profit growth between negative 2% and 2% at constant exchange rates. It previously saw full-year sales and operating profits, which it hiked in August, at negative 6% to flat for both metrics.
Sales in the third quarter came in at 79.2 billion Danish kroner ($11.9 billion), up 4% year-on-year at constant exchange rates and ahead of FactSet estimates of 73.6 billion kroner. Adjusted operating profit (EBIT) was 31.7 billion kroner, compared with the expected 28.6 billion kroner.