Novo improves outlook on continued demand for Wegovy pill, Ozempic

[New Nordisk] hapabapa/iStock Editorial via Getty Images Novo (NVO [https://seekingalpha.com/symbol/NVO]) raised its outlook for the year once again, driven by continued demand for its Wegovy weight-loss pill, and its older shot Ozempic. The Danish drugmaker now expects sales and operating profit to either decline by 2% or increase by as much as 2% this year at constant exchange rates. The revised forecast compares with its previous outlook, which had projected declines of up to 6%. The improved outlook is driven by increased expectations for GLP-1 product sales, the company said. Novo reported third-quarter net sales of DKK 79.19B, up 6% year over year. Operating profit, however, declined 3% to DKK 23B.