COPENHAGEN (Reuters) -Novo Nordisk on Thursday reported record sales and operating profits for the third quarter but flagged continued restrictions on supplies of its hugely popular Wegovy weight-loss drug.
Novo has struggled to keep up with soaring demand for the appetite-suppressing, anti-obesity drug and has limited the number of patients who can start treatment.
"While supply capacity for Wegovy is gradually being expanded, the supply of the lower dose strengths in the U.S. will remain restricted to safeguard continuity of care," the company said in a statement.
The company also said in its quarterly earnings statement that in September and October it had submitted applications with U.S. and European Union authorities for Wegovy to be approved to reduce the risk of cardiovascular events.
In August, Novo said the curbs would most likely extend into 2024.
Investors and analysts have called for clarity on when the supply issue would be solved, as rival Eli Lilly expects U.S. approval of its Mounjaro weight-loss drug later this year.
Sales grew 29% year-on-year to 58.7 billion Danish crowns ($8.33 billion), while operating profit (EBIT) rose 33% to 26.9 billion, both in line with preliminary numbers released last month.
($1 = 7.0443 Danish crowns)
(Reporting by Jacob Gronholt-Pedersen, editing by Terje Solsvik)
