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Novo Nordisk on Wednesday reported third-quarter earnings that were largely in line with expectations and narrowed its full-year 2024 growth guidance.
The Danish pharmaceutical giant said third-quarter net profit reached 27.3 billion Danish crowns ($3.92 billion), beating LSEG’s overall forecast of 26.95 billion Danish crowns.
EBIT (profit before tax) amounted to DKK 33.8 billion, also slightly higher than LSEG’s forecast of DKK 33.51 billion.
The company also narrowed its full-year 2024 sales growth guidance from 22% to 28% (on a constant currency basis) to 23% to 27%.
Novo Nordisk increasingly tested fierce competitionbut recent months have also seen promising news in the weight loss world.
Last week, the U.S. Food and Drug Administration said All doses of Wegovy now available In the United States, it was previously noted that the lowest dose of Wegovy was in short supply. The news was seen as a sign that Novo Nordisk’s efforts to increase supply of Wegovy and diabetes drug Ozempic are paying off.
Also in October, a study showed Ozempic may reduce the risk of Alzheimer’s diseaseshowing its potential to delay or prevent memory deprivation conditions.
—CNBC’s Annika Kim Constantino contributed to this article
