Link to part one: https://www.jamkaglobal.com/post/novo-nordisk-s-wegovy-blockbuster
Novo Nordisk's revenues in Q4 2023 increased year-on-year by 37% (+DKK 17.8 billion) to DKK 65.863 billion. Figure 1. The largest share of sales is GLP-1, see Figure 2.
The quarterly change in revenue was DKK +7.132 billion. The largest contribution is GLP-1 +DKK 7.126 billion (Figure 3).
The two largest contributors to the annual change in revenues are Wegovy (+DKK 7.2 billion) and GLP-1 (+DKK 13.4 billion). These two items give an annual increase of +DKK 20.6 billion - which is more than the total increase in revenues (all other items decreased year-on-year). Wegovy and Saxenda medicines constitute the "Total Obecity Care" segment. Figure 4 shows the annual contribution to the revenue change.
Key takeaway: the drastic increase in demand applies not only to drugs dedicated to obesity but also to drugs for diabetes (with the same active substance). Both in the case of Novo Nordisk (in the case of Ozempic and Wegovy, the active substance is semaglutide – Figure 5) and in the case of Eli Lilly (Mounjaro and Zepbound - the active substance is tirzepatide - Figure 6).
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