Zinger Key Points
- Novo Nordisk Q4 sales rose 30% to around $12 billion.
- GLP-1 diabetes sales grew 12% to DKK42.2 billion, while obesity drug sales surged 91% to DKK 21.4 billion.
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On Wednesday, Novo Nordisk A/S NVO reported sales of roughly $12.25 billion (85.68 billion Danish kroner) for the fourth quarter of 2024, beating the consensus of $11.34 billion (79.73 billion Danish Kroner).
Sales increased by 30% in Danish kroner and at CER compared to 2023.
GLP-1 diabetes sales increased by 12% at CER to 42.17 billion Danish kroner, and Obesity care sales increased by 91% at CER to 21.41 billion Danish kroner.
Ozempic sales increased 12% to 33.85 billion Danish kroner, and Wegovy sales more than doubled to 19.87 billion Danish kroner.
Insulin sales increased 36% to 15.9 billion Danish kroner, and Rare disease sales increased 25% at CER to 5.71 billion Danish kroner.
The Danish pharmaceutical giant’s net profit increased by 29% to 28.23 billion kroner, with EPS of 6.34 Danish kroner, up 29%, beating the consensus of 5.82 Danish kroner. In USD terms, EPS of $0.91 beat $0.83 consensus.
In its earnings release, Novo Nordisk outlined its plans to conduct a new phase 3 trial in 2025 to further explore CagriSema’s weight-loss potential.
The results from the second pivotal phase 3 trial, REDEFINE 2, of CagriSema in adults with type 2 diabetes and either obesity or overweight are expected during the first quarter of 2025
To secure supply chain readiness, the company now expects to file for the first regulatory approval of CagriSema during the first quarter of 2026.
Guidance: Novo Nordisk expects sales growth of between 16% and 24% in constant exchange rates this year, lower than the 26% achieved in 2024.
“In 2025, we will continue our focus on commercial execution, on the progression of our early and late-stage R&D pipeline and on the expansion of our production capacity,” Chief Executive Lars Fruergaard Jorgensen said.
The company expects 2025 operating profit growth of 19% to 27% in constant exchange rates.
Novo Nordisk adds that the outlook reflects expected continued periodic supply constraints and related drug shortage notifications across several products and geographies. Novo Nordisk is investing in internal and external capacity to increase supply in the short and long term.
Price Action: At last check on Wednesday, NVO stock was up 3.09% at $85.17 during the premarket session.
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