Novo Nordisk Raises Full-Year Revenue Guidance to 32-38% on Continued Semaglutide Sales Surge

On October 13, Novo Nordisk announced that the company's sales and operating profit for the first nine months of 2023 had grown. According to constant exchange rates (CER), the company’s sales increased by 33% and operating profit rose by 37% in the first nine months of 2023.

At the same time, Novo Nordisk raised its full-year sales and operating profit growth forecasts. The sales forecast has been readjusted to grow by 32-38%, and the operating profit forecast has been readjusted to grow by 40-46%.

The adjustment of sales expectations mainly reflects higher expectations for the full-year sales of Ozempic (for blood sugar control) in the U.S. and adjustments to the net sales of Ozempic and Wegovy (for weight loss) in the U.S.

The success of semaglutide in type 2 diabetes and weight loss has made it a star. Breakthroughs in other disease areas are also ongoing. In August this year, Novo Nordisk announced positive results for semaglutide in the Phase III STEP HFpEF trial for heart failure treatment. In the same month, Novo Nordisk published the positive primary results of the cardiovascular outcomes trial SELECT. Compared with placebo, once-weekly subcutaneous injection of semaglutide (2.4 mg) reduced major adverse cardiovascular events (MACE) by 20% in overweight or obese patients with cardiovascular disease but without diabetes (see: ).

On October 10, Novo Nordisk announced that the Phase III clinical trial FLOW of semaglutide for patients with type 2 diabetes and chronic kidney disease was terminated early due to excellent efficacy (see: ).

Semaglutide is continuously expanding its capabilities, with several key Phase III studies currently underway, involving major market indications such as Alzheimer's disease (AD), diabetic retinopathy, NASH, and peripheral artery disease (PAD).

Semaglutide, with its remarkable performance, has pushed the market value of Novo Nordisk to a new all-time high. Its current total market capitalization has exceeded 450 billion US dollars and is still on the way to reaching even higher levels.

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