Novo Nordisk (NYSE:NVO), Europe's biggest company, said it is ramping up production of its diabtes/weightloss drugs Wegovy and Ozempic, after patient numbers quadrupled in the US.
But the Danish colossus said it has cut the price of its blockbuster injected treatment due to competition from rivals like Eli Lilly.
First-quarter sales came in at 65.35 billion Danish krone, beating forecasts of DKK 63.75 billion, including almost DKK 35 billion from the drug.
The Wegovy injectable drug for weight loss has more than 130,000 weekly prescriptions in North America alone, the Danish group said, having boosting supplies in recent months to meet a huge rise in demand.
Earnings of DKK 31.85 billion for the quarter also came in higher than DKK 29 billion expectations.
For the full year, sales are seen rising 19-27% at constant exchange rates, though market forecasts were already for growth of just under 26%.