Novo Nordisk flags continued restrictions on Wegovy supplies

Flags with the Novo Nordisk logo flutter outside their Danish company’s offices in Copenhagen, Denmark, September 26, 2023. REUTERS/Tom Little/File Photoon Thursday reported record sales and operating profits for the third quarter but flagged continued restrictions on supplies of its hugely popular Wegovy weight-loss drug.

Novo has struggled to keep up with soaring demand for the appetite-suppressing, anti-obesity drug and has limited the number of patients who can start treatment. “While supply capacity for Wegovy is gradually being expanded, the supply of the lower dose strengths in the U.S. will remain restricted to safeguard continuity of care,” the company said in a statement.

The company also said in its quarterly earnings statement that in September and October it had submitted applications with U.S. and European Union authorities for Wegovy to be approved to reduce the risk of cardiovascular events.Sales grew 29% year-on-year to 58.7 billion Danish crowns ($8.33 billion), while operating profit (EBIT) rose 33% to 26.9 billion, both in line with preliminary numbers released last month.

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