In the first quarter of 2021, Novo Nordisk reported a 22 percent increase in turnover to 65.3 billion Danish kroner (approximately 8.76 billion euros), surpassing analyst expectations of 63.7 billion kroner. This growth was driven by sales of drugs developed for diabetes and obesity, including Wegowy and Ozempic, which saw a 25 percent increase from the comparison period. Novo Nordisk also experienced a 34 percent rise in turnover in North America.
The pharmaceutical giant has attributed its growth to its innovative treatments and recent acquisitions of production facilities, which will help serve a larger population. In response to its strong performance, Novo Nordisk has increased its profit guidance for the year, now expecting turnover growth of 19-27 percent, up from the previous guidance of 18-26 percent. Operating profit growth is also expected to be higher at 22-30 percent, compared to the previous estimate of 21-29 percent.
Novo Nordisk’s research department has seen positive results in trials for their drugs, including semaglutide’s effects on the kidneys and expanded uses for Wegowy in preventing cardiovascular diseases in the United States. The company recently acquired three production facilities from Catalent, further expanding its capabilities to reach people suffering from diabetes and obesity. With these successes and developments, Novo Nordisk remains on track for continued growth and innovation in the pharmaceutical industry.