Drugmaker Novo Nordisk has revealed gross sales of its common weight reduction drugs doubled over the beginning of the yr, driving larger earnings.
The Danish firm warned over provide constraints because it stated it was seeing robust demand for its weight problems remedies around the globe.
It reported internet gross sales of 65.3 billion Danish krone (£7.5 billion) for the primary quarter of 2023, almost 1 / 4 larger than the identical interval a yr in the past.
Gross sales of weight problems drugs Wegovy doubled to 9.4 billion Danish krone (£1.1 billion) from 4.6 billion Danish krone (£530 million) final yr.
We’re happy with the gross sales development within the first three months of 2024, pushed by elevated demand for our GLP-1-based diabetes and weight problems remedies
Lars Fruergaard Jorgensen, Novo Nordisk’s president
Wegovy is an injection pen utilizing the medication semaglutide, and works by regulating folks’s urge for food and serving to them really feel fuller in between meals.
It’s a newly accessible therapy within the UK so remains to be monitored carefully.
Demand for Wegovy at the moment exceeds the availability, Novo Nordisk stated, which led it to cut back the supply of lower-dose medicines within the US final yr.
It has began steadily rising the availability this yr and stated it’s investing in capability to extend provide within the quick time period and sooner or later.
In the meantime, gross sales of other injection pen Ozempic soared by 43% to 27.8 billion Danish krone (£3.2 billion) within the newest quarter.
Ozempic is a drugs designed to deal with folks with sort 2 diabetes, and isn’t licensed as a weight reduction therapy like Wegovy.
Gross sales development was helped by demand in North America, but it surely has led to bouts of provide points and drug shortages in its markets around the globe, the corporate stated.
Novo Nordisk dominates the marketplace for weight problems therapy with a world market share of greater than 85%.
It additionally has a share of greater than half of the worldwide marketplace for GLP-1-based merchandise, the category of medicine that deal with diabetes and weight problems.
The pharmaceutical large sells its merchandise in round 170 nations together with the UK and the US.
It reported an working revenue for the primary quarter of 31.8 billion Danish kroner (£3.6 billion) for the primary quarter, 30% larger than the earlier yr.
Lars Fruergaard Jorgensen, president and chief government of Novo Nordisk, stated: “We’re happy with the gross sales development within the first three months of 2024, pushed by elevated demand for our GLP-1-based diabetes and weight problems remedies.
“Extra sufferers profit from our progressive remedies, and the settlement to amass the three Catalent manufacturing websites will allow us to serve considerably extra folks dwelling with diabetes and weight problems sooner or later.”