Novo Nordisk pares 2024 profit outlook amid competition from Eli Lilly

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Novo Nordisk pares 2024 profit outlook amid competition from Eli Lilly - Business Standard

Quick Summary:

Though Novo and Lilly are now going head-to-head with their obesity treatments in a number of markets including Britain and Germany, the most lucrative one by far is the U.S.

Though Novo and Lilly are now going head-to-head with their obesity treatments in a number of markets including Britain and Germany, the most lucrative one by far is the U.S., where more than 70% of adults are obese or overweight.

Nevertheless, it raised its sales growth outlook for this year to between 22% and 28% in local currencies, compared to the previously guided range for 19% to 27% growth."We are pleased with the sales growth in the first half of 2024, which has enabled us to raise the outlook for the full year," CEO Lars Fruergaard Jorgensen said in a statement.