On 5 February 2025, Novo Nordisk released its financial results for 2024, reporting a 26% sales increase (at constant exchange rates (CER)) to DKK 128.3 billion. Sales in Novo Nordisk’s diabetes care segment (including Ozempic® (semaglutide), Rybelsus® (oral semaglutide) and Victoza® (liraglutide)) increased by 20% (CER) with its global diabetes value market share at 33.7% (constant over the last year). Meanwhile, Novo Nordisk’s obesity care product sales (Wegovy® (semaglutide) and Saxenda® (liraglutide)) grew by 57% at CER to DKK 65,146 million, with its volume market share being 70.4%.
Recent highlights are reported to include the approval of Awiqli® (insulin icodec) in Europe (May 2024), Japan (June 2024) and China (June 2024); US approval (January 2025) and positive EU opinion (December 2024) for an update of the Ozempic® label based on the FLOW kidney trial; submission of the SOUL cardiovascular outcomes trial and STRIDE functional outcomes trial (oral semaglutide) in the US and EU; US approval (March 2024) of Wegovy® to reduce the risk of major cardiovascular events and positive EU opinion (July 2024) to reflect a risk reduction of major adverse cardiovascular events in adults with established cardiovascular disease and either overweight or obesity without diabetes; and a positive EU opinion for a Wegovy® label expansion for obesity-related HFpEF (November 2024).
Novo Nordisk predicts sales growth of 16-24% at CER for 2025. This is expected to be driven mainly by volume growth of GLP-1 based treatments for obesity and diabetes care, but also takes into account competition and continued pricing pressure within those markets.