Novo Nordisk hits $500 billion in market value as it flags soaring demand for Wegovy, Ozempic
Publishing timestamp: 2024-01-31 11:55:45
Summary
Novo Nordisk, the maker of weight loss drug Wegovy and diabetes drug Ozempic, reported a 31% increase in sales in Danish kroner and a 36% increase at constant exchange rates. The company's diabetes and obesity care division saw strong performance, with obesity care sales soaring by 154%. Novo Nordisk's valuation rose to $506 billion. The company expects sales growth this year and welcomes competition in the weight loss market. Despite increased pressure on its supply chain, Novo Nordisk is investing in expanding production capacity to meet growing demand.
Sentiment: POSITIVE
Tickers: LLY, MC-FR, NOVO.B-DK,
Keywords: health care industry, novo nordisk a/s, biotech and pharmaceuticals, markets, breaking news: markets, earnings, lvmh moet hennessy louis vuitton se, eli lilly and co, business news, breaking news: investing, investment strategy,