Reported 2 months ago
Novo Nordisk's stock fell after the company revised its operating profit forecast downwards amid manufacturing challenges and competition. Despite this, CFO Karsten Munk Knudsen maintains that the recent sales shortfall for Wegovy is a minor blip, attributing increased demand for its GLP-1 products like Ozempic and Wegovy to an overall revenue growth of 25%. Wegovy sales climbed 55% to $1.7 billion but fell short of analyst expectations. The company continues to expand its supply capabilities and insists pricing pressures will not deter its growth plans.
Source: YAHOO