Novo Nordisk (NYSE: NVO), a Danish pharmaceutical giant specializing in diabetes care, has reported its financial results for the first half and second quarter of 2024. The company achieved a robust 25% year-on-year (YOY) increase in sales, reaching DKK 133,409 million (USD 19,524 billion) in total revenues. This growth was propelled by the Diabetes and Obesity care segment, primarily driven by Novo’s two GLP-1 drugs: Wegovy for weight loss and Ozempic for type 2 diabetes, both of which are formulations of semaglutide.
The Diabetes and Obesity care segment saw a 27% YOY increase in sales, amounting to DKK 125.0 billion (USD 18.3 billion) for the six-month period. This was largely due to a 32% growth in GLP-1 diabetes sales and a 37% surge in Obesity care sales, which reached DKK 24.9 billion (USD 3.6 billion). In contrast, sales for Novo’s rare disease portfolio declined by 4% YOY.
During the reported six-month period, Wegovy received approval for the treatment of obesity in both China and Europe. Additionally, the European Medicines Agency (EMA) has shown a positive inclination towards updating Wegovy’s labeling to include its potential to reduce the risk of major adverse cardiovascular events.- Flcube.com
