A collection of injector pens for the Saxenda weight reduction drug are proven on this picture illustration in Chicago, Illinois, U.S., March 31, 2023.
Jim Vondruska | Reuters
Novo Nordisk, which makes blockbuster drug Wegovy, raised its outlook for 2023 Thursday however stated it’s extending provide restrictions for some doses of the weight-loss drug.
The Danish pharmaceutical firm reported a 30% improve in gross sales, at fixed alternate charges, for the primary half of this 12 months to 107.7 million Danish kroner ($15.9 million). Web revenue elevated 43%, coming in at 39.2 million kroner.
The corporate’s diabetes and weight problems division carried out significantly nicely, bolstered by curiosity in its blockbuster injection Wegovy.
Shares initially rose in pre-market buying and selling, however then flipped to commerce nearly 2% decrease.
“The [sales] development is pushed by rising demand for our GLP-1-based diabetes and weight problems remedies, and we’re serving extra sufferers than ever earlier than,” Lars Fruergaard Jørgensen, president and CEO, stated in an announcement. “The efficiency within the first six months has enabled us to boost the outlook for the total 12 months.”
For 2023, the corporate now anticipates gross sales development of 27%-33% and working revenue development of 31%-37%, at fixed alternate charges.
Wegovy provide restrictions
Excessive demand for Wegovy has led the corporate to chop the provision of starter doses of the drug because it strives to maintain up with orders.
On Thursday, Novo Nordick confirmed that it’ll proceed to limit the lower-dose strengths.
Its outlook “displays anticipated continued periodic provide constraints and associated drug scarcity notifications throughout numerous merchandise and geographies,” the corporate stated.
“Novo Nordisk is investing in inner and exterior capability to extend provide each quick and long run. Whereas provide capability for [Wegovy] is progressively being expanded, the provision of the decrease dose strengths within the US will stay restricted to safeguard continuity of care.”
Novo Nordisk CEO Lars Fruergaard Jorgensen additional pressured a possible provide crunch of Wegovy within the close to future. In feedback reported by Reuters, he signaled important demand for the weight-loss drug will outstrip availabilities within the foreseeable future and stated that the corporate will possible have limits of availability of Wegovy into 2024.
Final week, late-stage trial knowledge confirmed that Wegovy decreased the chance of main cardiovascular occasions similar to coronary heart assaults or strokes by 20%, in contrast with a placebo, sending shares larger.
The outcomes of the intently watched “SELECT” trial, which exceeded expectations, have been seen as a significant enhance for the corporate’s hopes of transferring past Wegovy’s picture as a “vainness drug.”
The energetic ingredient in Wegovy is semaglutide, an FDA-approved drug that works by imitating a naturally-occurring intestine hormone that helps to manage urge for food.
— Sam Meredith contributed to this report.