Novo Nordisk smiling all the way to the bank
<img width="250" height="167" src="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-250×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-250×167.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-700×466.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-768×512.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/10/FNP-LP-Success-of-Ozempic-kidney-failure-trials-proves-disastrous-for-dialysis-stocks-5318697040iStock-1219304819.jpg 1255w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">During the first three quarters of 2023, these medicines helped the pharmaceutics research and development outfit top the GDP of its homeland, Denmark. This performance also catapulted Novo Nordisk to the top spot among European companies.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><span data-contrast="auto">Wegovy, the weight loss drug, raked in sales of $4.5bn, increasing the overall sales of this segment by 154%. <a href="https://www.leaprate.com/forex/technology/shares-for-ozempic-parent-company-novo-nordisk-rise-42-in-2023/" target="_blank" rel="noopener">Ozempic</a>, the therapeutic developed for type 2 diabetics, brought in close to $14bn. In a Yahoo Finance interview, Novo Nordisk CFO Karsten Knudsen said: </span></p>
<blockquote><p><span data-contrast="auto">I could smile a long time over results like this – 36% sales growth. You don’t see that too often.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p></blockquote>
<p><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span><span data-contrast="auto">The company’s executives are not the only ones smiling. Investors received an approximate 52% dividend increase as, according to Yahoo Finance, the company now has roughly $90bn cash in its piggy bank.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
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<p><span data-contrast="auto">No doubt, Novo Nordisk benefitted from being the first pharmaceutical company to launch these semaglutide-based drugs. Experts believe that the market will, however, be more competitive this year as companies such as Eli Lilly (LLY) push their own Mounjaro for diabetes and Zepbound for weight loss. </span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span><span data-contrast="auto">Novo Nordisk battled to keep up with the global demand for Ozempic and Wegovy. The latter-mentioned drug took some of this strain off Ozempic, as many previously used it as a weight-loss alternative. The company dedicated more than $8bn to upscale manufacturing to address the supply issues.</span><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span></p>
<p><span data-ccp-props="{"201341983":0,"335559739":0,"335559740":240}"> </span><span data-contrast="auto">In a bid to keep Novo Nordisk’s market edge, Knudsen added: </span></p>
<blockquote><p><span data-contrast="auto">We are, as of this week, more than doubling the supply of starter doses we are supplying the American market.</span></p></blockquote>
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