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Novo Nordisk announced stronger-than-expected first-quarter earnings, yet faces mounting challenges.
Novo Nordisk reported a first-quarter operating profit of 32.86 billion Danish crowns, beating forecasts.
KEY POINTS
- Adjusted sales and profit forecasts for Novo Nordisk in 2024 have been upgraded slightly.
- Eli Lilly received FDA approval for its obesity drug Foundayo, intensifying competition with Novo Nordisk.
- Novo Nordisk suffered a significant share price drop after recent drug price cuts and weaker trial results.
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