Excitement about the sales potential of GLP-1 agonists for the treatment of obesity is so strong that Novo Nordisk A/S is boasting about the performance of its top-seller in the class, Wegovy (semaglutide), nearly three weeks ahead of its first quarter earnings report scheduled for 4 May. The Danish big pharma announced on 13 April that its total product sales increased 25% in Q1 versus the same period in 2022, largely due to increased US demand for Wegovy, and it now is projecting 24%-30% companywide sales growth for the year, up from prior guidance of 13%-19%.
Novo also said operating profit growth was 28% in the first quarter and the company now expects operating profit growth in 2023 should come in at 28%-34%. The first quarter growth and expected increases for all of 2023 are thanks to Novo’s ability to increase Wegovy manufacturing capacity to keep up with demand, after failing to keep pace with rapidly rising prescription growth for the weight loss drug
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