Novo Nordisk (NVO) stock dipped early Wednesday on mixed third-quarter results as sales of weight-loss drug Wegovy beat expectations, but Ozempic came in light.
↑
X
How Novo Nordisk, Wegovy And Ozempic Are Changing The Weight-Loss Game For Patients And Investors
During the three months ended Sept. 30, Wegovy generated about $2.53 billion in sales, based on today’s exchange rates. That beat forecasts for $2.31 billion, according to FactSet. But Ozempic, the diabetes injection that uses the same active ingredient, came in short with $4.36 billion in sales, vs. analysts’ call for nearly $4.5 billion.
Overall, Novo’s earnings beat at 89 cents per share, but sales missed at $10.42 billion.
For the year, Novo guided to 23% to 27% sales growth, excluding the impact of exchange rates. That’s narrower than the company’s previous call for 22% to 28% sales growth.
In premarket trading on today’s stock market, Novo Nordisk stock fell more than 1% to 108.48.. Shares have traded under their 50-day and 200-day moving averages since mid-September.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
YOU MAY ALSO LIKE:
Viking Therapeutics Tumbles As Obesity Competition Sabotages Its Novo Nordisk Beat
Apellis Dives As Worse-Than-Expected Syfovre Sales Add Fuel To Market Woes
How To Research Growth Stocks: Why This IBD Tool Simplifies The Search For Top Stocks
