Novo Nordisk Reports Strong Third Quarter Results Driven by Oral Wegovy Growth
Novo Nordisk (NVO) reported third-quarter net sales of 79.2 billion DKK, a 6% year-over-year increase that exceeded analyst expectations. While flagship diabetes drug Ozempic saw a slight decline in sales, the company's oral version of Wegovy emerged as a significant growth driver, generating 5.4 billion DKK in revenue during the quarter and surpassing three million prescriptions by June. Despite a 16% drop in net income due to non-cash impairment charges, Novo Nordisk raised its full-year 2026 guidance. The company now expects flat year-over-year revenue at the midpoint, an improvement over previous projections of a 3% decline. This 'beat and raise' performance led to a 6% increase in share price following the announcement.
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