Novo Nordisk posts net profit beat as Wegovy sales jump 107% in fourth quarter

Danish pharmaceutical behemoth Novo Nordisk on Wednesday reported better-than-expected net profit in the fourth quarter, amid soaring demand for its Wegovy obesity drugs.

Net profit for the fourth quarter came in at 28.23 billion Danish kroner ($3.98 billion), versus the 26.09 billion Danish kroner anticipated.

Full-year net profit reached 100.99 billion Danish kroner, also beating estimates of 99.14 billion Danish kroner for 2024.

The drug maker posted a 107% year-on-year increase in Wegovy sales to 19.87 billion Danish kroner ($2.76 billion) in the three months to the end of December, slightly missing the 20.02 billion Danish kroner forecast by analysts in a Factset poll late Tuesday.