No­vo’s GLP-1 sales boost prof­its, yet full po­ten­tial still curbed by sup­ply squeeze

No­vo Nordisk is still hit­ting a glass ceil­ing in rev­enues due to GLP-1 sup­ply con­straints even as sales keep ris­ing. The price of We­govy dropped in the first quar­ter, a trend that the com­pa­ny ex­pects to con­tin­ue due to com­pe­ti­tion as well as its so-called “vol­ume-based strat­e­gy.”

The drug­mak­er’s sales in the first three months of 2024 in­creased 24% in con­stant ex­change rates from the same pe­ri­od last year to 65.3 bil­lion Dan­ish kro­ner ($9.4 bil­lion). It al­so re­port­ed a 43% rise in Ozem­pic sales to 27.8 bil­lion Dan­ish kro­ner ($3.9 bil­lion) and more-than-dou­bling of We­govy sales for obe­si­ty to 9.4 bil­lion Dan­ish kro­ner ($1.4 bil­lion). It’s rais­ing both rev­enue and prof­it fore­casts.

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