Novo Nordisk's Wegovy Success Propels Shares Up

Novo Nordisk reports strong sales of Wegovy, propelling shares up 9%. Despite supply constraints, volumes are expected to increase. U.S. sales thrive amidst stable pricing and new international markets enhance growth. Concerns over unregulated compounding channels pose potential risks, though currently not impacting the business.

Novo Nordisk's recent quarterly report has revealed robust sales of its weight-loss drug, Wegovy, surpassing market expectations and boosting shares by nearly 9%.

According to CEO Lars Fruergaard Jorgensen, the company anticipates a significant boost in Wegovy sales in the U.S. for Q4, attributing this to resolving earlier supply restrictions and stable pricing.

Internationally, Wegovy's sales also exceeded forecasts as the drug expanded into new markets. However, Jorgensen voiced concerns over unregulated compounding channels in the U.S., which could pose safety risks although they currently do not affect Novo Nordisk's business operations.

(With inputs from agencies.)