Demand for Ozempic and Wegovy Is Through the Roof. Here's Why it Can Go Even Higher.
Ozempic and Wegovy. Those are the two drugs that are the focal point of any earnings or press release that comes out from Novo Nordisk (NYSE: NVO). The Danish company has struck gold with not just a top diabetes drug in Ozempic but an impressive weight-loss treatment in Wegovy. Both drugs actually help people lose weight, and they are the catalysts behind the company's impressive revenue growth this year. But as well as Novo Nordisk has been doing, there's room for it to perform even better, as demand for these drugs is still in its early stages.
Earlier this month, Novo Nordisk boosted its projections for this year as it is experiencing strong sales growth, with Ozempic and Wegovy being key catalysts for its operations. Its new guidance says that at constant exchange rates, sales will be up between 32% and 38% for the year, which is higher than its previous range of 27% to 33%. Operating profit growth will also be between 40% and 46%, which is a big improvement from an earlier forecast of 31% to 37%.
Through the first nine months of the year, the company's sales are up 33% overall. But the actual growth for Wegovy and Ozempic is likely to be much higher than that. The company will release its full and detailed results on Nov. 2.
Source Fool.com
