Novo Nordisk boosts full-year profit and sales outlook on weight-loss drug demand

Novo Nordisk
NVO,
+2.29%

NOVO.B,
+1.12%
said it’s increased its forecast for full-year sales and operating profit at constant exchange rates. The Danish insulin maker said in the first quarter, at constant exchange rates, its operating profit rose 28% on sales growth of 25%. Thanks mostly to prescription trends for weight-loss drug Wegovvy, Novo Nordisk now expects operating profit growth between 28% and 34% on sales growth between 24% and 30%, vs. its earlier view of 13% to 19% growth in both operating profit and sales for the year. Earlier, Credit Suisse had upgraded the stock, citing Ozempic growth acceleration and Wegovy re-launch.