Key Takeaways
- After rising in premarket trading, Novo Nordisk's U.S.-listed shares fell after the market opened Wednesday as its third-quarter sales fell short of estimates despite continued growth form weight-loss drugs Ozempic and Wegovy.
- Sales rose 21% from the same time last year, but analysts had expected them to rise a bit higher.
- The Danish drugmaker also narrowed its full-year projections for revenue and operating profit.
After rising in premarket trading, Novo Nordisk's (NVO) U.S.-listed shares fell after the market open✅ed Wednesda🌠y as its third-quarter sales fell short of estimates despite continued growth form weight-loss drugs Ozempic and Wegovy.
The Danish drugmaker reported 71.31 billion 澳洲幸运5官方开奖结果体彩网:Danish krone ($10.24 billion) in sales—a 21% jump from the same time last year—but still just below the DKK 72.17 billion ($10.36 billion) 澳洲幸运5官方开奖结果体彩网:analysts had expected, according to estimates compiled by Visible Alpha. Despite the sales miss, Novo Nordisk's 澳洲幸运5官方开奖结果体彩网:net income of DKK 27.3 billion came in higher than the DKK 26.66 billion analysts were expecting.
Sales of the company's obesity and diabetes drugs jumped 25% from the same time last year, while sales in North America surged 31% in the quarter. The 澳洲幸运5官方开奖结果体彩网:company has faced questions from U.S. lawmakers about why its products are so much more expensive in the U.S. than European countries.
Full-Year Outlook Narrowed at T𒀰op and Bottom Ends
"The sales growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments, and we are serving more patients than ever before," Novo Nordisk CEO Lars Fruergaard Jørgensen said.
The company also narrowed its 澳洲幸运5官方开奖结果体彩网:full-year guidance, projecting sales growth between 23% to 27%, with both the high and low end slightly narrower than the 22% to 28% projected growth previously. The same adjustment was made to 澳洲幸运5官方开奖结果体彩网:operating profit projections, as Novo Nordisk now expects the metric to grow 21% to 27% year-over-year, compared to the previous range of 20% to 28%.
Novo Nordisk's U.S.-traded shares were down 3% in morning trading Wednesday.