Novo Nordisk Q1 Profit Beats Forecast, But Cuts Sales Outlook
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Novo Nordisk reported a stronger-than-predicted first-quarter net profit of $4.4 billion, exceeding analyst expectations. However, the company lowered its full-year sales growth forecast due to competition from copycat weight-loss drugs. Wegovy sales, while up 83%, fell slightly short of projections. Overall revenue increased 18%, and Ozempic sales also surpassed forecasts. Despite the positive quarter, the revised sales growth forecast reflects the impact of generic competition.
Novo Nordisk reported a stronger-than-predicted first-quarter net profit of $4.4 billion, exceeding analyst expectations. However, the company lowered its full-year sales growth forecast due to competition from copycat weight-loss drugs. Wegovy sales, while up 83%, fell slightly short of projections. Overall revenue increased 18%, and Ozempic sales also surpassed forecasts. Despite the positive quarter, the revised sales growth forecast reflects the impact of generic competition.
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