The Fort Worth Press - Obesity drug maker Novo Nordisk posts strong profit

USD -
AED 3.672977
AFN 68.000338
ALL 93.019769
AMD 388.466711
ANG 1.802136
AOA 913.507442
ARS 1004.024015
AUD 1.53468
AWG 1.8025
AZN 1.702233
BAM 1.859028
BBD 2.018819
BDT 119.494913
BGN 1.86488
BHD 0.376867
BIF 2897.5
BMD 1
BND 1.343751
BOB 6.909335
BRL 5.814302
BSD 0.999857
BTN 84.485602
BWP 13.651378
BYN 3.272548
BYR 19600
BZD 2.015674
CAD 1.39568
CDF 2870.000091
CHF 0.886604
CLF 0.035278
CLP 973.429703
CNY 7.237203
CNH 7.253685
COP 4391
CRC 508.292544
CUC 1
CUP 26.5
CVE 105.62499
CZK 24.195026
DJF 177.720257
DKK 7.115305
DOP 60.4023
DZD 133.588994
EGP 49.668496
ERN 15
ETB 123.093572
EUR 0.95385
FJD 2.27125
FKP 0.789317
GBP 0.793835
GEL 2.725002
GGP 0.789317
GHS 15.849765
GIP 0.789317
GMD 70.999559
GNF 8629.999573
GTQ 7.719178
GYD 209.209595
HKD 7.78355
HNL 25.174971
HRK 7.133259
HTG 131.285912
HUF 392.284991
IDR 15927.05
ILS 3.71464
IMP 0.789317
INR 84.510799
IQD 1310.5
IRR 42104.999856
ISK 139.349642
JEP 0.789317
JMD 158.803485
JOD 0.709103
JPY 154.569674
KES 129.501289
KGS 86.498751
KHR 4049.999918
KMF 467.497654
KPW 899.999621
KRW 1399.524993
KWD 0.30763
KYD 0.833321
KZT 495.877273
LAK 21954.999924
LBP 89600.000059
LKR 290.944865
LRD 180.450432
LSL 18.110004
LTL 2.95274
LVL 0.60489
LYD 4.884965
MAD 9.995001
MDL 18.209124
MGA 4670.000107
MKD 58.680488
MMK 3247.960992
MNT 3397.999946
MOP 8.016062
MRU 39.904986
MUR 46.403431
MVR 15.459836
MWK 1734.999682
MXN 20.41969
MYR 4.465031
MZN 63.949792
NAD 18.109844
NGN 1687.150112
NIO 36.789902
NOK 11.067525
NPR 135.177343
NZD 1.70542
OMR 0.384985
PAB 0.999948
PEN 3.795025
PGK 4.02575
PHP 58.981496
PKR 278.050105
PLN 4.1439
PYG 7848.150595
QAR 3.64075
RON 4.747398
RSD 111.612008
RUB 101.300503
RWF 1370
SAR 3.754518
SBD 8.355531
SCR 13.660107
SDG 601.477673
SEK 11.057569
SGD 1.345855
SHP 0.789317
SLE 22.574973
SLL 20969.504736
SOS 571.492896
SRD 35.405018
STD 20697.981008
SVC 8.749543
SYP 2512.529858
SZL 18.109726
THB 34.714996
TJS 10.649728
TMT 3.5
TND 3.164995
TOP 2.342097
TRY 34.496503
TTD 6.787668
TWD 32.563503
TZS 2652.35897
UAH 41.282881
UGX 3694.533288
UYU 42.610626
UZS 12880.000006
VES 46.002271
VND 25422.5
VUV 118.722009
WST 2.791591
XAF 623.500672
XAG 0.032387
XAU 0.000374
XCD 2.70255
XDR 0.762793
XOF 619.500595
XPF 113.650183
YER 249.924982
ZAR 18.08805
ZMK 9001.213194
ZMW 27.574604
ZWL 321.999592
  • RYCEF

    0.1800

    6.79

    +2.65%

  • JRI

    -0.0350

    13.195

    -0.27%

  • RBGPF

    -0.5000

    59.69

    -0.84%

  • CMSC

    0.0700

    24.59

    +0.28%

  • BCC

    3.3200

    140.73

    +2.36%

  • VOD

    -0.1050

    8.835

    -1.19%

  • RIO

    0.1100

    62.5

    +0.18%

  • NGG

    -0.2400

    63.03

    -0.38%

  • SCS

    0.1350

    13.205

    +1.02%

  • CMSD

    0.0880

    24.348

    +0.36%

  • RELX

    0.5550

    45.665

    +1.22%

  • BTI

    -0.1000

    36.98

    -0.27%

  • GSK

    0.1900

    33.54

    +0.57%

  • BCE

    -0.4480

    26.552

    -1.69%

  • BP

    0.3450

    29.425

    +1.17%

  • AZN

    0.6450

    63.845

    +1.01%

Obesity drug maker Novo Nordisk posts strong profit
Obesity drug maker Novo Nordisk posts strong profit / Photo: © GETTY IMAGES NORTH AMERICA/AFP/File

Obesity drug maker Novo Nordisk posts strong profit

Danish pharmaceutical giant Novo Nordisk, maker of the blockbuster diabetes and weight-loss drugs Ozempic and Wegovy, posted Wednesday strong third-quarter earnings despite being held back by production constraints.

Text size:

Europe's most valuable company and the main driver of the Danish economy said it expected its 2024 full-year sales to be up by 23 to 27 percent from a year earlier, revising its earlier forecast of 22 to 28 percent.

It cited in a statement "the expectation of continued volume growth and capacity limitations at some manufacturing sites."

The group reported a 21-percent rise in net profit to 27.3 billion kroner ($3.94 billion) for the July-to-September period.

Sales jumped by 22 percent to 60 billion kroner, slightly under analysts' expectations.

Novo Nordisk is ramping up its manufacturing sites to keep up with surging demand for its new generation of effective weight-loss treatments using semaglutides.

Sales of Wegovy, which has been approved for use to treat obesity in Britain, Denmark, France, Germany, Norway and the United States, rose by 42 percent in the first nine months of the year.

Wegovy was also approved for use in China in June.

Sales of the company's other semiglutide bestseller, Ozempic -- an injectable anti-diabetic treatment which has become popular for its slimming properties -- soared by 54 percent in the same period.

Obesity has escalated into a global health crisis, affecting 900 million people worldwide, including over 40 percent of Americans and nearly a quarter of Europeans.

It is a risk factor for developing diabetes, some forms of cancer and complications from other diseases, such as Covid.

Difficult to treat, it is costly for healthcare systems and while its causes can be lifestyle-related, it can also be influenced by genetics.

Novo Nordisk has a hold on 74 percent of the market for weight-loss treatments.

The World Obesity Federation predicts that by 2035, over half of the world's population will be overweight or obese and the global economic impact could then exceed $4 trillion a year.

T.Dixon--TFWP