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Wegovy was the first of a new wave of medicine against obesity in the market.Photograph: Reuters
The Novo Nordisk of Denmark has reduced its annual revenue and benefits after the “decame” sales of its Wegovy weight loss drug, as the United States prescriptions decreased.
A Boom in Wegovy’s sales and the Ozempic diabetes medication He helped turn the drug maker in the most valuable contributed company in Europe, worth $ 615 million ($ 461 million) at his peak last year.
However, recipes in the United States, their largest market, have not grown since February, although Novo Nordisk increased Wegovy’s production to meet the demand for drugs. Its market value has been reduced to $ 310 million.
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A slowdown in the growth of sales is likely to deepen the concern of investors that the largest company in Denmark loses its market share to its United States rival Eli Lilly, which causes diabetes and Mounjaro and Zepbound Diabesity.
Susannah Streeter, an analyst of Hargreaves Lansdown, said that Novo Nordisk “seemed like a lean benefit machine, but its sales became bankrupt, as the main rival Eli Lily wins more muscle in space.”
Wegovy was the first of a new wave of anti-obesity drugs, known as GLP-1, after the intestinal hormone that mimicked-to reach the market. Sales of the injectable medicine amounted to Danish $ 17.36 million (1.98 million pounds) between January and March, 13% of the previous quarter. Analysts were below the 18.7 million Kroner forecast.
General revenue increased by 18% and the profits before the tax advanced 16% to 37 million Kroner to constant change rate in the first quarter, but Novo said it was affected by compounding: medicines made by pharmacies that used the active ingredients of patented medicines.
This began in the United States after the drug regulator declared a shortage of Wegovy, Ozempic and Zepbound, allowing patients to buy compound products up to $ 199 a month, while brand medicines cost more than $ 1,000. Since then, the shortage has been reduced.
Drenten Nathan, the head of the capital of Hargreaves Lansdown, said: “ There is a reduction in compounds, but the question marks are held on their application.The end of shortage also raises questions about the health of the United States.
The Danish company now provides for sales growth of 13% to 21% this year, below the rank of 16% to 24% at the beginning of the year. Operational profits are expected to increase from 16% to 24%, compared to the previous estimate of a 19% increase to 27%.
Analysts provide for sales and operational profit this year will grow 17.8% and 21.5% respectively.
