Novo Nordisk Seeks to Solidify Its Lead in Diabetes Treatment and Crushing the Market
Danish pharmaceutical company Novo Nordisk (NYSE: NVO), is bolstering its market dominance in diabetes, a disease that affects some 415 million people worldwide, with numbers growing all the time. By 2040, there will be more than half a billion patients, according to the Centers for Disease Control and Prevention.
So it comes as little surprise that in 2022, Novo Nordisk made 177 billion Danish kroner in sales ($25.8 billion), a 26% increase in its native currency, and a 16% increase at constant exchange rates (CER). Net profit was 55.5 billion kroner ($8.1 billion), up 16% in that currency.
Nearly 90% of Novo Nordisk's sales are of diabetes and obesity treatments, which increased 19% at CER. The main drivers for this obesity and diabetes sales growth was Novo Nordisk's "GLP-1" diabetes treatments (glucagon-like peptide 1 agonists), Rybelsus, Ozempic, and Victoza, sales of which rose to 83.4 million kroner ($12.2 million), up 56% or 42% at CER.
Source Fool.com
