Novo Nordisk is scaling Wegovy supply 'significantly': CFO

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Published 2024-08-07

Novo Nordisk (NVO) shares are falling in Wednesday's pre-market session — and into the regular trading session — after the pharmaceutical giant missed second quarter revenue estimates ($3.8 billion vs. expectations of $4.1 billion) tied to Wegovy sales.

Senior health reporter Anjalee Khemlani interviews Novo Nordisk CFO Karsten Munk Knudsen, who discusses the sales figures for its landmark weight-loss drug and calling Wall Street's reaction "a blip."

"For the second quarter, we're growing the company 25% in the first half, which is top end of the industry. And, and we raised our full year outlook, top line wise, also by a couple of percentage points," Knudsen says. "Right now, demand is greater than supply for Wegovy and overall for the obesity market given the significant unmet need. We are scaling Wegovy as we speak already, significantly."

When asked about whether Novo Nordisk is considering licensing its GLP-1 products to expedite US access to them, Knudsen asserted the company is already "maxing out in terms of supply... we are really supplying as much as we are able to produce."

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All Comments (12)

@lucindasamantha52 16 hours ago

NVDA39T is still extremely undervalued
@hannahtran75 16 hours ago

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@nyratang68 16 hours ago

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@bieberdenise 15 hours ago

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@ducksteinlasharon 16 hours ago

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@marilynlee65 15 hours ago

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@frachescazvcy 15 hours ago

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@kenishasmith60 15 hours ago

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@KV-cb8rw 16 hours ago

Completely foolish this drop in share Price. Makes no sense now We dont have really competition in this field besides Eli and those two Companys cant even supply the market which is 50 times bigger. Bunch of girls on Wall street but thanks for the buy in case.
@banasiewiczfrederick 16 hours ago

Thanks for the advice! Got NVDA39T, feeling bullish! 🚀