Danish pharmaceutical giant Novo Nordisk has reported record-breaking financial results for 2024. Revenue soared by 25% to 290 billion DKK (€38.9 billion), while net profit after tax increased 21% to 101 billion DKK (€13.4 billion). The company’s remarkable growth continues to position it as one of Europe’s leading pharmaceutical firms.
Strong growth driven by diabetes and obesity drugs
Novo Nordisk’s success is mainly fueled by its diabetes and obesity treatments, with sales of these products growing 26% to 272 billion DKK (€36.5 billion).
Ozempic, a medication for type 2 diabetes, remains the company’s best-selling product, generating over 120 billion DKK (€16.1 billion) in revenue, up 21% from the previous year. Meanwhile, Wegovy, a treatment for severe obesity, saw its sales surge 86%, reaching 58 billion DKK (€7.8 billion).
Both drugs are based on semaglutide, which reduces appetite and increases the feeling of fullness.
Lars Fruergaard Jørgensen, CEO of Novo Nordisk, stated:
“We are satisfied with the sales in 2024, where more than 45 million people now benefit from our treatments.”
Expanding the product pipeline: Cagrisema
Novo Nordisk is also investing in new treatments. The company recently announced results from a study on Cagrisema, a weight-loss drug combining semaglutide and cagrilintide. Participants lost an average of 22.7% of their weight over 68 weeks, slightly below the 25% percent target. A new phase 3 study will begin in 2025.
Novo Nordisk now plans to apply for regulatory approval for Cagrisema in early 2026, adjusting its timeline to ensure supply chain readiness.
