cnbc_topnews

Novo Nordisk CEO defends economics of Wegovy pill as lower prices weigh on sales; shares fall

📰 source: cnbc_topnews · 💼 business

shares in novo nordisk fell as much as 5% after quarterly results, with investors focused on pricing pressure and the profile of the wegovy pill. the danish drugmaker raised its full-year guidance after adjusted sales rose 7% at constant exchange rates in the second quarter, and operating profit gained 11%. ceo mike doustdar said volumes were up well into double digits, but prices dragged on financials.

oral wegovy sales slightly missed forecasts, and the company reported another mixed clinical result for cagrisema. still, doustdar defended the pill's economics, saying it wouldn't show top and bottom growth if the pill weren't profitable. the pill has reached more than 5 million prescriptions, with 80% of patients new to glp-1 treatments, suggesting market expansion. he also pushed back on slowing momentum, noting the last million prescriptions took four weeks versus eleven for the first million.

guidance now sees adjusted sales and operating profit down 6% to flat at constant exchange rates, an improvement from earlier calls. competitors like eli lilly are pressing, and analysts remain unconvinced. citi said 'overall nothing to inspire.'

why it matters: novo's oral wegovy expansion collides with lilly competition and pipeline doubts, leaving investors questioning its growth trajectory.

source: cnbc_topnews
sentiment: -0.60 · impact: 0.70

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects