Novo Nordisk Profit Beats Forecasts on Wegovy Pill Sales
Novo Nordisk beat profit forecasts and raised its annual outlook on strong Wegovy pill sales. The results help the drugmaker compete with rival Eli Lilly.
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Novo Nordisk A/S-B reported Q1 operating profit of 32.86B Danish crowns, beating forecasts of 28.74B crowns on Wednesday morning. The results were driven by sales of its weight-loss pill, which reached 2.26B crowns and nearly doubled analyst expectations. The performance signals a potential recovery as the drugmaker attempts to reclaim market share from its primary rival in the United States.
