Wegovy maker Novo Nordisk posts earnings miss, cuts operating profit outlook

Novo Nordisk on Wednesday posted weaker-than-expected net profit in the second quarter and trimmed its operating profit outlook.

The pharmaceutical giant said its net profit came in at 20.05 billion Danish kroner in the three months to the end of June. A LSEG aggregate forecast had projected the figure would come in at 20.9 billion Danish kroner., the Wegovy maker had posted a net profit increase of 28% to 25.4 billion Danish kroner year on year, it said in May.Sign up for our free Olympics Headlines newsletter.

At the time, Novo Nordisk also raised its 2024 outlook slightly, bumping its sales growth projection to a range between 19% and 27% at constant exchange rates, as well as raising its operating growth forecast to a 22% to 30% interval. The adjustment was linked to prior-year growth net estimates in the U.S., the company said.

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