Novo Nordisk Boosts Wegovy Supply Amid Soaring Demand and Competition

The Danish pharmaceutical giant aims for double-digit growth in 2024 as it increases Wegovy supplies in the U.S. and faces new competition.

Novo Nordisk has started increasing the supply of its weight-loss drug Wegovy in the U.S., aiming to alleviate shortages and meet the surging demand.
The company forecasts another year of double-digit sales and operating profit growth, driven by Wegovy and diabetes drug Ozempic.
Wegovy's success has propelled Novo Nordisk to become Europe's most valuable listed company, surpassing luxury goods giant LVMH.
Competition in the weight-loss drug market is heating up, with Eli Lilly launching its Zepbound therapy in the U.S. and Europe.
Novo Nordisk plans to continue rolling out Wegovy in new markets and expects prices to fall as volumes increase and competition intensifies.