Novo Nordisk (NYSE:NVO) posted a better-than-expected net profit of 28.23 billion Danish kroner ($3.98 billion) in the fourth quarter, beating analyst forecasts.
The company’s blockbuster Wegovy obesity drug saw sales soar 107% year-on-year to 19.87 billion Danish kroner ($2.76 billion), though this was slightly below expectations.
Total company sales grew 30% in Q4 and 26% for the full year, driven largely by demand in North America and Europe, the Middle East, and Africa.
However, Novo Nordisk forecast slower growth for 2025, expecting sales to rise between 16% and 24%, compared to 18% to 26% in 2024.
The company cited rising competition and pricing pressures in the diabetes and obesity care market.
Investors are closely watching Novo’s next-generation obesity drug, CagriSema, after trial results in December showed lower-than-expected weight loss effects.
However, its experimental Amycretin treatment has shown promising early results.