Novo posted quarterly earnings ahead of expectations early Wednesday as sales of its Wegovy pill blew past estimates
By FrontRow
The Danish weight-loss drug maker is looking to regain momentum following a tumultuous year in which it fell behind rival Eli Lilly. The company updated its outlook to now see adjusted revenue and operating profit growth of between negative 2% and 2% at constant exchange rates. It previously saw full-year sales and operating profits, which it hiked in August, at negative 6% to flat for both metrics. Sales in the third quarter came in at 79.2 billion Danish kroner ($11.9 billion), up 4% year-on-year and ahead of FactSet estimates of 73.6 billion kroner. Adjusted operating profit (EBIT) was 31.7 billion kroner, compared with the expected 28.6 billion kroner.
