Novo Nordisk Has Its Best Year Ever

 
• By Elizabeth Cairns
  
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The Danish group has seen the kind of profit growth that other companies can only dream of. But nothing lasts forever: its 2024 guidance looks rather more modest.  

Sales going up

Novo Nordisk A/S had a pretty good 2023, its full-year sales increasing by 36% at constant exchange rates and its operating profit by 44% – both above analysts’ expectations. It achieved its goal of securing more than a third of the entire global diabetes market, and thanks to the relaunch of Wegovy (semaglutide injection) a year or so ago, saw its obesity sales jump by 154% globally and nearly 400% in the US.

Key Takeaways

  • Novo posted full-year 2023 sales of DKK232bn ($33.7bn) and net profits of DKr83.6bn ($12.2bn)

The results drove Novo’s share price up to DKK776 in early trading today, an all-time high, meaning the company’s market...

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