International Courant
Novo Nordisk Wegovy, produced by Novo Nordisk Packaging, is seen on this illustration photograph taken at a pharmacy in Krakow, Poland, on April 8, 2024. (Picture by Jakub Porzycki/NurPhoto by way of Getty Pictures)
Jakub Porzycki | Nurphoto | Getty Pictures
Novo Nordisk on Wednesday reported weaker-than-expected second-quarter internet revenue and minimize its working revenue forecast.
The pharmaceutical large stated internet revenue for the three months to the tip of June got here to twenty.05 billion Danish crowns ($2.93 billion). An LSEG mixture forecast had predicted the determine would come to twenty.9 billion Danish crowns.
EBIT (earnings earlier than curiosity and taxes) within the second quarter got here in at DKK 25.93 billion, which was additionally decrease than the LSEG forecast of DKK 26.86 billion.
Novo Nordisk additionally lowered its full-year 2024 working revenue forecast, now anticipating development of between 20% and 28%, down from the beforehand anticipated 22% to 30%.
Shares in Novo Nordisk fell when markets opened in Europe, buying and selling down 6.85% at 8:07 a.m. (London time).
Within the first quarter of 2024, the maker of Wegovy posted a 28% improve in internet revenue to DKK 25.4 billion year-on-year, barely revising upwards forecasts for income and working revenue development.
Income development expectations have been raised once more on Wednesday, with the corporate now issuing a forecast of twenty-two% to twenty-eight% at fixed change charges for the complete yr 2024. The income development forecast for the interval had beforehand been estimated at 19% to 27%.
Gross sales of the favored slimming product Wegovy elevated by 55% within the second quarter of 2024 in comparison with the identical interval in 2023, reaching 11.66 billion crowns.
Novo Nordisk is going through growing competitors within the weight-loss house, from each smaller corporations and pharmaceutical giants like Roche. Final month, the corporate shared promising early-stage information from a examine of its personal weight problems drug candidate.
Novo Nordisk’s Wegovy has additionally delivered promising information in current months. The drug was permitted in China within the second quarter, making it out there on the market on the earth’s second-largest financial system. Elsewhere, the UK and European Union’s well being regulators stated they have been backing Wegovy as a option to scale back the danger of significant coronary heart circumstances in chubby and overweight adults.
This present information merchandise is being up to date.
Novo Nordisk Q2 2024 outcomes
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