{"id":40218,"date":"2023-11-01T21:09:22","date_gmt":"2023-11-01T21:09:22","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/novo-nordisk-reports-earnings-thursday-wegovy-and-ozempic-will-be-in-focus\/"},"modified":"2023-11-01T21:09:26","modified_gmt":"2023-11-01T21:09:26","slug":"novo-nordisk-reports-earnings-thursday-wegovy-and-ozempic-will-be-in-focus","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=40218","title":{"rendered":"Novo Nordisk Reports Earnings Thursday. Wegovy and Ozempic Will Be in Focus."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000788200\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>When<br \/>\n        Novo Nordisk<br \/>\n       reports earnings on Thursday, investors will be focused on sales of its blockbuster anti-obesity medicines, which have captured the cultural imagination over the past year.<\/p>\n<p>Novo\u2019s (ticker: NVO) American depository receipt is up more than 40% this year on excitement over its weight-loss and Type 2 diabetes drugs. The company\u2019s market value has climbed to roughly $430 billion, making it one of the most valuable healthcare companies in the world.<\/p>\n<div class=\"paywall\">\n<p>The earnings report comes amid what has been a surprisingly grim two weeks for the pharmaceutical sector: Investors have sold off shares of virtually every large drugmaker that has reported earnings in recent days. That has led to share-price losses for<br \/>\n        Sanofi<br \/>\n       (SNY),<br \/>\n        Amgen<br \/>\n       (AMGN), and other companies. Investors have even dumped shares of companies as they reported generally good news, as was the case with<br \/>\n        GSK<br \/>\n       (<br \/>\n        GSK<br \/>\n      ) on Wednesday.<\/p>\n<p>Novo and its competitor<br \/>\n        Eli Lilly<br \/>\n       (LLY) have been the exceptions to the rule in the drug sector so far this year, rising while most of the rest of the pharmaceutical sector has fallen.<\/p>\n<p>While Novo and Lilly\u2019s shares have skyrocketed, the<br \/>\n        NYSE Arca Pharmaceutical Index<br \/>\n       (DRG), which tracks drug stocks, is down 1.1% on the year. Investors\u2019 reaction to Novo\u2019s third-quarter earnings Thursday will show whether that trend continues.<\/p>\n<p>Novo took some of the intrigue out of Thursday\u2019s announcement in mid-October, when it previewed its earnings and raised its full-year estimates. The company said sales were up 38% in the third quarter of 2023 compared with the same period last year, and operating profits were up 47%.<\/p>\n<p>At the time, Novo said it expects sales for 2023 to climb between 32% and 38% from 2022 to 2023, up from its prior estimate of an increase of between 27% and 33%. It projected full-year operating profits to grow between 40% and 46%, up from its previous estimate of between 31% and 37%.<\/p>\n<p>Novo had also raised its sales guidance to reflect increased expectations for sales of Ozempic, its Type 2 diabetes drug. A higher-dose version of Ozempic, called Wegovy, is sold as a weight-loss treatment.<\/p>\n<p>Wall Street analysts expect Novo to report earnings of 4.81 Danish krone per share on sales of 57.8 billion Danish krone ($8.2 billion) for the third quarter, according to FactSet. Sales were 45.6 billion Danish krone, or $6 billion, in the same quarter last year.<\/p>\n<p>One question for the company is the progress of its efforts to ramp up Wegovy and Ozempic production to meet exploding demand.<\/p>\n<p>Novo reports its financial results on Thursday morning. The company is hosting an investor call at 8 a.m. ET.<\/p>\n<p>Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/novo-nordisk-earnings-stock-price-d13d3382?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When Novo Nordisk reports earnings on Thursday, investors will be focused on sales of its blockbuster anti-obesity medicines, which have captured the cultural imagination over the past year. Novo\u2019s (ticker: NVO) American depository receipt is up more than 40% this year on excitement over its weight-loss and Type 2 diabetes drugs. The company\u2019s market value [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":40219,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[33],"tags":[],"class_list":{"0":"post-40218","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Novo Nordisk Reports Earnings Thursday. 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