Novo Nordisk boosts sales and profit outlook, buoyed by Ozempic and Wegovy

Novo Nordisk
NVO,
+1.36%
on Friday boosted its full-year 2023 profit and sales outlook, reflecting heightened expectations for Ozempic and Wegovy sales. The company now projects full-year sales growth of 32% to 38%, up from 27% to 33% previously, and operating profit growth of 40% to 46%, up from 31% to 37% previously. The brighter outlook factors in higher expected U.S. Ozempic sales volumes as well as gross-to-net sales adjustments for both Ozempic and Wegovy in the U.S., the company said. In the first nine months of 2023, sales growth at constant exchange rates was 33%, while operating profit growth clocked in at 37%, Novo Nordisk said Friday. Novo Nordisk’s American depositary receipts gained 2.2% premarket Friday and are up 48% in the year to date, while the S&P 500
SPX,
-0.62%
is up 13.3%.