The Danish pharmaceutical giant, which became Europe’s most valuable company last year, said Wegovy sales jumped 106% in the first quarter.
Novo Nordisk raised its 2024 outlook on Thursday and delivered better-than-expected first-quarter profits as the Danish drugmaker races to boost output of its Wegovy weight-loss drug and fend off competition from rival Eli Lilly. Novo is currently the most valuable company in Europe by market capitalisation, worth some 540.4 billion euro ($576.44 billion) before earnings on Thursday, on the back of Wegovy's popularity. Sales growth in the U.S. was positively impacted by a one-off sales adjustment, the company said.
LONDON (Reuters) -Novo Nordisk raised its 2024 outlook on Thursday and delivered better-than-expected first-quarter profits as the Danish drugmaker races to boost output of its Wegovy weight-loss drug and fend off competition from rival Eli Lilly. Novo is currently the most valuable company in Europe by market capitalisation, worth some 540.4 billion euro ($576.44 billion) before earnings on Thursday, on the back of Wegovy's popularity. Sales growth in the U.S. was positively impacted by a one-off sales adjustment, the company said.