Weight-loss drug maker Novo Nordisk beats earnings forecast

It specified that sales and operating profit growth reported in Danish crowns are now expected to be 6 and 9 percentage points lower than at local currencies, respectively.

Danish drug developer Novo Nordisk on Thursday reported first-quarter operating profit above analyst forecasts, helped by sales in the United States of its hugely popular Wegovy weight-loss drug.

"The growth is driven by increasing demand for our GLP-1-based diabetes and obesity treatments," Chief Executive Lars Fruergaard Jorgensen said in a statement. Novo reported earnings before interest and taxes (EBIT) of 25 billion Danish crowns ($3.72 billion), above an average analyst forecast of 22.4 billion, according to a Refinitiv poll.

Earlier this month, Novo, the second-most valuable company in Europe by market capitalisation, significantly raised

its full-year operating profit and sales expectations on the back of strong demand for Wegovy. Novo on Thursday maintained the full-year growth guidance in local currencies. It specified that sales and operating profit growth reported in Danish crowns are now expected to be 6 and 9 percentage points lower than at local currencies, respectively. ($1 = 6.7221 Danish crowns)