The Danish pharmaceutical giant Novo Nordisk, the creator of weight-loss injections Wegovy and Ozempic, has announced a significant surge in profits due to soaring demand for these drugs.
Net profits reached 39.2 billion kroner (£4.5 billion) for the January–June period, marking a 43% increase compared to the previous year’s 27.5 billion kroner.
The company’s CEO highlighted that they are now catering to “more patients than ever before.” The demand for these drugs has been so robust that the company is currently grappling with supply challenges.
Wegovy, an obesity treatment taken weekly, tricks individuals into feeling full, leading to reduced food intake and weight loss. High-profile figures like Elon Musk have reportedly used this drug, which gained popularity in Hollywood and with the general public after receiving regulatory approval in the US in 2021.
Wegovy and Ozempic, diabetes treatments with similar effects, have been described in media reports as “miracle” drugs that could spark a “revolution” in weight loss.
A recent trial demonstrated that Wegovy not only aids in weight loss but also reduces the risk of stroke or heart attack. Novo Nordisk hailed this trial as a “landmark,” suggesting it will transform how obesity is perceived and treated.
The company also indicated that it is revising its annual profit and sales forecasts. CEO Lars Fruergaard Jorgensen attributed this growth to the rising demand for their diabetes and obesity treatments based on “GLP-1,” emphasising that they are now reaching more patients than ever before.
While Wegovy received approval for NHS use earlier in the year and studies suggested users could shed over 10% of their body weight, trial results showed that individuals often regained weight after discontinuing treatment.