BRIEF—Novo Nordisk raises sales and operating profit outlook for 2023

Danish diabetes care giant Novo Nordisk on Friday announced that the sales and operating profit growth at constant exchange rates (CER) for the first nine months of 2023 and the full-year sales and operating profit outlook at CER have been raised.

In the first nine months of 2023, Novo Nordisk’s sales increased by 33% and operating profit increased by 37% both at CER.

The sales outlook for 2023 is updated, primarily reflecting higher full-year expectations for diabetes drug Ozempic (semaglutide) volumes sold in the USA and gross-to-net sales adjustments for Ozempic and obesity treatment Wegovy (semaglutide) in the USa.

Novartis now expects sales growth this year of 32% to 38%, per above its previous projections of 27% to 33%, at CER. The company forecasts operating profit growth for 2023 to be 40% to 46%, up from previous guidance of 31% to 37%.