Novo Nordisk: Can This $11 Billion Expansion Solve Its Wegovy and Ozempic Supply Crisis & Give It An Edge Over Eli Lilly?

Novo Nordisk delivered a strong financial performance in 2024, with a 26% rise in both sales and operating profit, driven by its blockbuster diabetes and obesity drugs, Ozempic and Wegovy. The company reported a 30% year-over-year revenue increase in the fourth quarter, surpassing expectations, largely due to pricing adjustments in the U.S. The results eased investor concerns over a potential slowdown in the obesity market, particularly after rival Eli Lilly’s recent sales miss. Novo’s stock surged 3% in European trading and 3.4% in premarket U.S. trading following the earnings report.