Novo Nordisk Q3 2024 results [Video]

Novo Nordisk on Wednesday reported a third-quarter beat on sales of its blockbuster weight-loss drug Wegovy and narrowed its 2024 full-year growth guidance.

Company shares jumped early on Wednesday and were last up 7.7% at 9:02 a.m. London time.

The Danish pharmaceutical giant said that its net profit in the third quarter hit 27.3 billion Danish kroner ($3.92 billion), above an LSEG aggregate estimate of 26.95 billion Danish kroner.

Novo Nordisk added that sales of Wegovy were 79% higher year-on-year in the third quarter, coming in at 17.3 billion Danish kroner. This was above the 15.9 billion Danish kroner analyst had been expecting according to a company-compiled consensus, Reuters reported.

The company narrowed its sales growth outlook for the full year 2024 to 23% to 27% from 22% to 28% at constant exchange rates and tightened its operating profit growth guidance to come in at 21% to 27%, versus the …