FMP

FMP

Enter

Novo Nordisk Posts Strong 9-Month Growth, Shares Gain 4%

-

twitterlinkedinfacebook
blog post cover photo

Image credit: FMP

Novo Nordisk (NYSE:NVO) shares rose more than 4% pre-market today after the company reported robust performance for the first nine months of 2024, with sales climbing 23% in Danish kroner and 24% at constant exchange rates, reaching DKK 204.7 billion. This growth was fueled by rising demand for GLP-1-based treatments, particularly for diabetes and obesity, as the company reached an increasing number of patients.

The diabetes and obesity care segment saw a notable 25% increase in sales, totaling DKK 191.8 billion. Obesity care, bolstered by the success of Wegovy, surged 44%, with Wegovy alone up by an impressive 76% to DKK 38.3 billion. The diabetes segment also saw significant contributions, driven by strong sales of GLP-1 products like Ozempic and Rybelsus, especially in North America where sales rose by 31%.

The company also advanced key R&D initiatives, with its SOUL cardiovascular trial demonstrating the efficacy of oral semaglutide in reducing cardiovascular risks for diabetes patients. Additionally, Novo Nordisk completed a phase 2a trial for its obesity treatment candidate monlunabant, with phase 2b trials set for 2025, aiming to expand treatment options worldwide.

Other Blogs

May 14, 2024 11:41 AM - Sanzhi Kobzhan

The easiest way to calculate stock’s target price and why the target price is important.

A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...

blog post title

May 24, 2024 9:30 AM - Rajnish Katharotiya

How to Access and Analyze Earnings Call Transcripts

Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...

blog post title

May 27, 2024 3:30 PM - Rajnish Katharotiya

The best 5 GPU stocks other than NVDA

In the ever-evolving world of technology, certain sectors have consistently demonstrated exceptional growth and innovation. The graphics processing units (GPUs) industry is one such sector, offering investors a golden opportunity for potentially high returns. In this blog, we'll delve into why inves...

blog post title
FMP

FMP

Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
twitterlinkedinfacebookinstagram
2017-2024 © Financial Modeling Prep