UnitedHealth earnings beat estimates as company again raises guidance

UnitedHealth Group Inc. UNH, +2.16% posted better-than-expected earnings for the third quarter on Friday and again raised its full-year guidance.

The company raised its full-year adjusted earnings guidance to a range of $24.85 to $25.00 per share, compared with a FactSet consensus of $24.83. On a call with analysts Friday, UnitedHealth faced several questions about coverage of popular diabetes and weight-loss drugs such as Ozempic and Wegovy. “We’re struggling, and frankly our clients are struggling, with the list prices which have been demanded on these products in the U.S.,” UnitedHealth CEO Andrew Witty said on the call.

Even as the executives were speaking, Novo Nordisk NVO, +2.15% boosted its full-year 2023 profit and sales outlook, citing heightened expectations for Ozempic and Wegovy sales.

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