Danish pharmaceutical giant Novo Nordisk said its net profit rose 51% last year. This success is due to sales of its popular drugs for diabetes and obesity, reported AFP.
The 100-year-old company reported net income of $12.1 billion, which was higher than the forecast of analysts polled by financial data firm FactSet.
Novo Nordisk said sales of its diabetes and obesity products grew 42% at constant currencies to $36 billion last year.
Total sales increased 36% to $33 billion in 2023.
"We are very pleased with the good results in 2023, which reflect the fact that more than 40 million people are already benefiting from our innovative treatments for diabetes and obesity," said CEO Lars Freuergaard Jørgensen.
"We continue to make progress on our strategic aspirations. In 2024, we will focus on reaching more patients as well as continuing to significantly expand our manufacturing capacity," Jorgensen added.
Novo Nordisk makes Ozempic, an injectable antidiabetic treatment that has become extremely popular on social media for its weight-loss properties.
The company also makes Wegovy, which has the same active ingredient as Ozempic in a different dose and is approved by US regulators for the treatment of obesity.
The drug's success has seen the Danish giant become a darling of investors, who have boosted the company's share price to such an extent that it became Europe's biggest group by market capitalization last year./BGNES
