Novo Nordisk’s Obesity Care Sales Drive 1Q Results

Novo Nordisk
1Q Revenues: 53.4 DKK billion (+27%). $7.8 billion
1Q Earnings: 19.8 DKK billion (+39%) $2.9 billion
Comments: Sales within Diabetes and Obesity care increased by 33% to DKK 48.8 billion, mainly driven by GLP-1 diabetes sales growth of 54%. Rare disease sales decreased 15% reflecting a temporary reduction in manufacturing output. Obesity care sales grew by 131% to DKK 7.8 billion mainly driven by the uptake of Wegovy in the U.S. A second contract manufacturer for Wegovy initiated production in April 2023. Novo Nordisk successfully completed the PIONEER PLUS phase 3 trial with oral semaglutide 25 mg and 50 mg demonstrating superior reductions in HbA1c and body weight versus 14 mg in people with type 2 diabetes.