Novo-Nordisk's stock surged 5.3% in pre-market trading on Wednesday, as investors braced for the Danish drugmaker's highly anticipated quarterly financial results. The pharmaceutical giant's GLP-1 drugs, including the weight-loss medication Wegovy and the Type 2 diabetes drug Ozempic, have been the subject of intense investor scrutiny and high hopes for blockbuster sales growth.
Despite recent setbacks, such as disappointing trial data for their next-generation weight-loss drug CagriSema and concerns about competition from rival drugmakers like Eli Lilly, analysts are expecting robust sales numbers for Wegovy and Ozempic in the fourth quarter. According to FactSet estimates, Wegovy sales are projected to reach 20 billion Danish Krone (approximately $2.8 billion), while Ozempic sales are expected to hit 33 billion Danish Krone (around $4.6 billion).
Moreover, investors are eagerly awaiting updates from Novo-Nordisk on their efforts to alleviate the supply constraints that have plagued these highly sought-after GLP-1 drugs. With an $11 billion deal struck in December to ramp up production, the company aims to address the global shortage and meet the surging demand for these groundbreaking medications.
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