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Novo Nordisk: 1Q24 Results

HEALTHCARE

Novo Nordisk (NOVOB: A1/AA-): 1Q24 Results


Wegovy sales came in -11% vs estimates, but revenue overall did beat by 2.5% at DKK 65.3bn EBITDA was a strong DKK 34.7bn +12% beat.

  • Wegovy sales in the crucial US market are up 400% on the year
  • CEO has raised full-year guidance as pricing in the US improves

Competition from Eli Lilly is fierce but the market for weight-loss drugs and diabetes treatments is growing. Novo is buying Catalent for $16.5bn (incl debt) in order to access contract manufacturing facilities.

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