2024 Revenues ($USD) : $42.11B

Joining Eli Lilly among the pharma sector's most rapid ascenders in 2024, Novo Nordisk A/S delivered robust financial results. The company reported full-year sales of DKK 290.4 billion (approximately USD 42.1 billion), marking a 26% jump at constant exchange rates (CER). This top-line performance translated directly to strong profitability, with operating profit climbing 28% (CER) to DKK 128.3 billion and net profit rising 21% to DKK 101.0 billion. The core engine of this expansion was unequivocally the diabetes and obesity care division, which collectively generated DKK 271.8 billion in sales, reflecting a 27% growth rate (CER).

Within this division, the obesity care segment stood out with a 57% sales surge (CER) to DKK 65.1 billion. Wegovy saw its sales more than double in the fourth quarter compared to the prior-year period. The GLP-1 diabetes franchise posted its robust trajectory, posting a solid 22% increase (CER), demonstrating sustained demand across the portfolio.

Looking to perpetuate this momentum, Novo Nordisk highlighted significant progress. Key late-stage clinical trial results were reported, including data showing substantial mean weight loss figures for CagriSema (22.7% in REDEFINE 1) and a higher dose formulation of Semaglutide 7.2 mg (20.7% in STEP UP). Additionally, early-stage work proceeded with the injectable amycretin candidate, completing a phase 1b/2a trial evaluation for overweight or obesity.

To address the immense demand for its GLP-1 therapies and secure future supply, Novo Nordisk executed a critical strategic move by completing the acquisition of three fill-finish manufacturing sites from Novo Holdings A/S in December 2024, subsequent to Novo Holdings' purchase of Catalent. This integration is explicitly aimed at significantly bolstering production capacity to meet current and projected needs. This operational focus is reflected in the company's confident outlook for 2025, projecting sales growth between 16-24% (CER) and operating profit growth of 19-27% (CER).