Novo Nordisk A/S disappointed analysts during its 3 August second quarter earnings call with the news that full supply of its weight-loss drug Wegovy (semaglutide) is now likely toward the end of 2022, rather than during the second half of the year as previously indicated. Combined with news that the SELECT cardiovascular outcomes trial of the drug will not have an interim readout prior to its expected conclusion in mid-2023, the news overshadowed a nonetheless strong growth quarter for the Copenhagen-based firm – including stellar sales for the semaglutide franchise.
Since its launch in mid-2021, sales of Wegovy, a formulation of the GLP-1 analog also contained in the type 2 diabetes blockbuster Ozempic, took off quickly. However, US demand was such that Novo Nordisk stopped promoting the product in late 2021 as manufacturing issues slowed production
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