Novo Nordisk's Profitable Quarter: Diabetes Drug Demand Soars

Novo Nordisk's third-quarter operating profit matched expectations, with a strong demand for its GLP-1-based diabetes and obesity treatments. The company reported a 26% rise in operating profit to 33.8 billion Danish crowns, slightly above analyst forecasts. Sales growth has led to a narrowed full-year profit guidance.

Weight-loss and diabetes drugmaker Novo Nordisk announced Wednesday that its third-quarter operating profit met market expectations, leading to a tightened full-year sales and profit guidance.

CEO Lars Fruergaard Jorgensen credited the growth to surging demand for the company's GLP-1-based diabetes and obesity medications, noting that Novo Nordisk is serving a record number of patients.

The company's operating profit increased by 26% from July to September, reaching 33.8 billion Danish crowns ($4.86 billion), slightly surpassing the 33.6 billion anticipated by analysts.

(With inputs from agencies.)