Novo raises guidance as oral Wegovy pricing pressure sends shares down 5%
CEO Mike Doustdar said the pill is profitable and volumes rose double digits, while analysts flagged rebate adjustments behind the beat and another mixed CagriSema readout.
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By Maren Holt · Senior Reporter, GLP-1
Aug 5 03:00 ETSource: CNBC
The wire
- 01Novo Nordisk lifted full-year guidance to adjusted sales and operating profit down 6% to flat at constant exchange rates, from a previous 4% to 12% decline; Q2 adjusted sales rose 7% and operating profit 11%.
- 02Falling semaglutide prices and rising volumes set the reference point against which compounders, telehealth sellers and payers price obesity care.
- 03Copenhagen shares fell about 5%; analysts said the beat leaned on rebate adjustments and temporary factors, oral Wegovy slightly missed forecasts, and CagriSema data were again mixed.
From the source
Read at cnbc.comNovo Nordisk CEO defends economics of Wegovy pill as lower prices weigh on sales; shares fall 5%
Novo Nordisk 's CEO sought to reassure investors that its Wegovy pill can drive profitable growth despite lower prices, as investors sent the drugmaker's shares lower following quarterly results.