Wegovy helps Novo Nordisk beats forecasts, but sales growth tipped to slow

(Sharecast News) - Novo Nordisk reported better-than-expected fourth quarter profit on the back of surging demand for its Wegovy weight loss drug but also said 2025 sales growth would slow slightly as competition for obesity treatments intensified. Net profit at the Danish drug giant was up 29% to 28.23 billion Danish kroner (£3.14bn), compared with estimates of DKK 26.09BN. For the full year profit rose 21% to DKK 100.99bn, just above forecasts of DKK 99.14BN.

Sales of Wegovy, more than doubled to DKK 19.87bn in the final three months of 2024, slightly missing the DKK 20.02bn forecast by analysts.

The company forecast slower sales growth for this year of 16% - 24% on a constant exchange rate basis, below forecasts of 18% - 26%, with Novo Nordisk citing "intensifying competition and continued pricing pressure within Diabetes and Obesity care".

Reporting by Frank Prenesti for Sharecast.com