Novo Nordisk's (NVO) stock soared 5.05% in pre-market trading on Wednesday, following the Danish pharmaceutical giant's impressive fourth-quarter earnings and sales performance, driven by the continued success of its blockbuster weight-loss drug Wegovy and diabetes treatment Ozempic.
The company reported better-than-expected Q4 earnings of $0.88 per share, surpassing analysts' estimates of $0.83. Sales for the quarter jumped 30% year-over-year to $11.97 billion, exceeding expectations of $11.24 billion. Wegovy sales more than doubled to $2.77 billion, while Ozempic sales rose 12% to $4.74 billion, both beating forecasts.
Novo Nordisk's robust financial results were fueled by the soaring demand for its innovative GLP-1 drugs, which have been widely embraced by healthcare providers and patients alike. However, the company acknowledged that it expects periodic supply constraints and related drug shortage notifications across several products and geographies in 2025, as it grapples with the challenges of meeting the surging demand.
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