Wegovy-maker Novo Nordisk extends curb on supply of weight-loss drug, raises outlook

Novo Nordisk, which makes blockbuster drug Wegovy, raised its outlook for 2023 Thursday but said it is extending proviso restrictions for immoderate doses of the weight-loss drug.

The Danish pharmaceutical institution reported a 30% summation successful sales, astatine changeless speech rates, for the archetypal fractional of this twelvemonth to 107.7 cardinal Danish kroner ($15.9 million). Net nett accrued 43%, coming successful astatine 39.2 cardinal kroner.

The company's diabetes and obesity part performed peculiarly well, bolstered by involvement successful its blockbuster injection Wegovy.

Shares initially rose successful pre-market trading, but past flipped to commercialized astir 2% lower.

"The [sales] maturation is driven by expanding request for our GLP-1-based diabetes and obesity treatments, and we are serving much patients than ever before," Lars Fruergaard Jørgensen, president and CEO, said successful a statement. "The show successful the archetypal six months has enabled america to rise the outlook for the afloat year."

For 2023, the institution present anticipates income maturation of 27%-33% and operating nett maturation of 31%-37%, astatine changeless speech rates.

High request for Wegovy has led the institution to cut the proviso of starter doses of the cause arsenic it strives to support up with orders.

On Thursday, Novo Nordick confirmed that it volition proceed to restrict the lower-dose strengths.

Its outlook "reflects expected continued periodic proviso constraints and related cause shortage notifications crossed a fig of products and geographies," the institution said.

"Novo Nordisk is investing successful interior and outer capableness to summation proviso some abbreviated and agelong term. While proviso capableness for [Wegovy] is gradually being expanded, the proviso of the little dose strengths successful the US volition stay restricted to safeguard continuity of care."

Novo Nordisk CEO Lars Fruergaard Jorgensen further stressed a imaginable proviso crunch of Wegovy successful the adjacent future. In comments reported by Reuters, helium signaled important request for the weight-loss cause volition outstrip availabilities successful the foreseeable aboriginal and said that the institution volition apt person limits of availability of Wegovy into 2024.

Last week, late-stage proceedings data showed that Wegovy reduced the hazard of large cardiovascular events specified arsenic bosom attacks oregon strokes by 20%, compared with a placebo, sending shares higher.

The results of the intimately watched "SELECT" trial, which exceeded expectations, were seen arsenic a large boost for the company's hopes of moving beyond Wegovy's representation arsenic a "vanity drug."

The progressive constituent successful Wegovy is semaglutide, an FDA-approved cause that works by imitating a naturally-occurring gut hormone that helps to modulate appetite.

— Sam Meredith contributed to this report.