Danish Novo Nordisk reported Thursday, May 4, a 39% increase in first-quarter profits, due to the company’s sales of obesity treatments.
From January to March, net profit reached 19.8 billion DKK ($2.9 billion) while sales grew 27% to 53.4 billion DKK. Both figures are exceeding analyst expectations.
The Danish company in particular experienced a rise in sales of its obesity medications Wegovy, that went up 211% and Ozempic that rose 59% in the quarter.
These treatments have gained popularity as they lead to greater weight loss than other drugs available until now.
“The prescription trend for the drugs (particularly in the US) highlights the need for people living with obesity,” said CEO Lars Fruergaard Jorgensen in a statement.
In mid-April, Novo Nordisk said it was now expecting a revenue increase of 24 to 30% for the full year. This is compared to an earlier forecast of 13 to 19% back in February.
Both drugs uses a molecule called semaglutide that mimics a hormone that can slow down the emptying of the stomach and thereby reduces appetite.
Recently, health experts have voiced concern over Ozempic becoming a social media phenomenon. Many users have called it a “miracle” treatment for losing weight fast on various platforms.
Source: macaubusniess.com
