Novo Nordisk raises sales and operating profit outlook for 2023

Novo Nordisk announced the sales and operating profit growth at constant exchange rates, or CER, for the first three months of 2023 and that the full-year sales and operating profit outlook at CER has been raised. In the first three months of 2023, Novo Nordisk’s sales increased by 25% and operating profit increased by 28%, both at CER. "Wholesaler inventory movements in the US positively impacted sales growth," the company stated. The sales outlook for 2023 is raised, primarily reflecting Wegovy prescription trends in the first quarter and higher full-year expectations for sales of Wegovy in the U.S. Furthermore, a second contract manufacturer is now ready to begin production, thereby increasing Wegovy supply capacity. The updated sales outlook also reflects higher full-year expectations for Ozempic sales, mainly in the U.S., following accelerated volume growth of the GLP-1 class, the company stated. The 2023 sales growth outlook at CER is now 24%-30%, up from 13%-19% previously, and the operating profit growth outlook is now 28%-34%, up from 13%-19% previously. Novo Nordisk’s full disclosure of the financial results for the first three months of 2023 will be published on May 4.