Danish drug manufacturer Novo Nordisk (NVVO) said the fourth quarter of 2024 on Wednesday, beating Wall Street expectations and increasing its stock by more than 3% in the market before the market.
The company declared a turnover of $ 40.5 billion, up 25% against 2023. For the fourth quarter, Novo said $ 11.6 billion in revenues, up 30% compared to Same quarter in 2023. The results largely beat Wall Street estimates of $ 39.8 billion of $ 39.8 billion for the full year and $ 11.2 billion for the fourth quarter.
The successful semaglutide drugs of the company, Wegovy for weight loss and ozempic for diabetes, are essential to the beat of the company. Combined, they reported $ 24.9 billion for the year. This is compared to the turnover of $ 18.5 billion in 2023. Sales represent 60% of total income.
The two GLP-1 gave Novo an enviable place on the weight loss market, with 52% of the market. The increase in sales income in recent years has earned the company the title of largest company in Europe, by market capitalization, with more than $ 375 billion.
The results of Novo’s profits on Wednesday differ from Eli Lilly, whose actions have slipped on the slower than expected sales of weight loss drugs towards the end of the year. Novo saw, but Novo said on Wednesday that it expects slower growth in 2025 compared to the previous year.
The prospects of 2024 estimated between 18% to 26%, the company has in the process of advertisement between 16% and 24% for 2025.
Growth came with slowders along the way, especially in the past year.
The next generation of company weight loss drugs has not convinced successors of successful potential to compete with current drugs. Test data at a higher stage of Cagrisema showed weight loss of 22.7% – which is roughly the same competitor Eli Lilly (LLY) Drugs – at the end of last year. But the leaders said that the company was working on a second trial. Meanwhile, the stock broke out last month on positive data from the early trials of another next generation medication, Amycretin.
Sémaglutide drugs are also still on the FDA shortages list, which means that aggravated pharmacies are still able to sell versions to be eliminated. Novo is working on the construction of new manufacturing sites to combat this and the conclusion of the cataling agreement at the end of 2024, which will add three new sites.
The company will now have 14 manufacturing sites in total, the CEO Lars Jørgensen said on Wednesday. And the agreement will result in a sure blow of $ 1.26 billion this year by loan funding.
Another potential headwind is negotiations on Medicare drug prices. The profits report has been the first since Medicare included the successful diabetes of the company and weight loss drugs on its negotiation list for this year, the prices coming into force in 2027.
