BRIEF—Weight loss benefits see Wegovy sales soaring

Danish diabetes giant Novo Nordisk has raised its full-year sales and operating profit outlook, primarily reflecting robust sales of weight loss drug Wegovy (semaglutide).

While in February the company projected sales growth of 13%-19% for the year, it now expects growth of 24%-30%. Growth in operating profits is now projected to reach 28-34%, rather than 13-19%.

Novo Nordisk said that, for the first three months of 2023, sales increased by 25% and operating profit increased by 28%, both at constant exchange rates.

The updated outlook also reflects higher full-year expectations for Ozempic (semaglutide) sales, mainly in the USA, as demand for semaglutide increases across the board.