- Group’s appetite-suppressing anti-obesity injection wegovy provides boost
The maker of a weight-loss drug vowed to supply ‘significantly’ more doses next year as sales and profits soar.
Danish giant Novo Nordisk has struggled to keep up with booming demand – particularly in the US – for the appetite-suppressing anti-obesity injection wegovy.
It plans to ramp up production, but warned shortages would continue.
Danish giant Novo Nordisk has struggled to keep up with booming demand – particularly in the US – for the appetite-suppressing anti-obesity injection wegovy
Chief executive Lars Fruergaard Jorgensen said: ‘We still see a demand side that’s outmatching what we can supply.’
Novo said it would be expanding manufacturing.
Wegovy sales totalled £1.1bn in the three months to the end of September, up 28pc from the previous quarter.
The group raked in profits of £8.8bn during the first nine months of the year, with total sales of £19bn.
Novo was briefly Europe’s most valuable listed company this year as its market cap surged to £338bn. It is now valued at around £284bn.
Wegovy is an injection that users take once a week to trick the body into thinking it is full.
It became available on the NHS in September and is sold privately at up to £299 a month. Novo shares jumped 3.2pc yesterday.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
Interactive Investor
Interactive Investor
Flat-fee investing from £4.99 per month
EToro
EToro
Social investing with CopyTrader feature
Bestinvest
Bestinvest
Free financial coaching
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
