Novo Nordisk posts record quarterly results, keeps curbs on Wegovy supplies
By Jacob Gronholt-Pedersen
COPENHAGEN (Reuters) — Novo Nordisk (NYSE:NVO) on Thursday reported record sales and operating profits for the third quarter but said it would keep in place restrictions on supplies of its hugely popular Wegovy weight-loss drug.
The company also said in its quarterly earnings statement that in September and October it had submitted applications with U.S. and European Union authorities for Wegovy to be approved to reduce the risk of cardiovascular events.
That followed results of a large study released in August that showed Wegovy had a clear cardiovascular benefit, boosting the Danish company's hopes of moving beyond its image as a lifestyle drug.
The U.S. Food and Drug Administration had granted priority review for the application, Novo said.
Novo has struggled to keep up with soaring demand for the appetite-suppressing, anti-obesity drug and has limited the number of U.S. patients who can start treatment since May.
«While supply capacity for Wegovy is gradually being expanded, the supply of the lower dose strengths in the U.S. will remain restricted to safeguard continuity of care,» the company said in a statement.
Wegovy sales totaled 9.6 billion Danish crowns ($1.36 billion) between July and September, up 28% from the previous quarter and up eight-fold from the same period last year.
In August, Novo said the curbs on Wegovy supplies would most likely extend into 2024.
Investors and analysts have called for clarity on when the supply issue would be solved, as rival Eli Lilly (NYSE:LLY) expects U.S. approval of its Mounjaro weight-loss drug later this year.
The company also said U.S. prescription volumes for GLP-1 class, its hugely popular weight loss and diabetes drugs, grew by 50% in the
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