Novo Nordisk (NVO) shares on Wednesday reached an all-time excessive because it reported a robust monetary efficiency for 2023 on the again of its diabetes and weight problems care portfolio.

Shares have gained +57.11% during the last 12 months and touched a excessive a $109.33 forward of This autumn and FY earnings.

Revenues rose 31% Y/Y to DKK 232.3B for the total yr, beating analyst estimates of a 27% improve. Gross sales in North America rose 50% whereas worldwide revenues had been up 11%. Web revenue elevated 51% to DKK 83.7B, with a 36% margin and DKK 18.62 EPS.

Weight problems care blockbuster Wegovy was the important thing driver of development, with gross sales surging 407% to DKK 31.3B, 203% within the US alone following business relaunch in January 2023.

Novo Nordisk (NVO) has began since January 2024 to progressively improve provide of decrease dose strengths of Wegovy, which had been decreased since Might 2023 in response to extra demand. In the meantime, Saxenda gross sales have dropped 20% because the weight problems care market strikes in direction of once-weekly remedies.

The diabetes and weight problems care franchise posted a 38% bounce in gross sales to DKK 215.1B, pushed by 48% increased gross sales of GLP-1 medicine and a 147% surge in gross sales of its weight reduction vary. In the meantime, uncommon illness drug gross sales fell 16% as manufacturing dropped. The drugmaker continues to be the worldwide market chief within the GLP-1 section with a 54.8% worth market share measured by whole month-to-month prescriptions.

Novo Nordisk (NVO) expects development momentum to proceed to 2024, with 18-26% fixed foreign money development projected for 2024 and 21-29% increased working earnings. Gross sales are set to rise on the again of quantity development of GLP-1-based remedies for weight problems and diabetes regardless of intensifying competitors.

The corporate does count on continued periodic provide constraints and associated drug scarcity notifications throughout various merchandise and geographies, however is investing in short- and long-term manufacturing capability will increase to handle them. It additionally expects a gradual roll-out of Wegovy with capped volumes in worldwide markets.