Nearly $3.8 billion was earned by Novo Nordisk A/S and Eli Lilly and Co. in the third quarter for their glucagon-like peptide-1 (GLP-1) drugs to treat obesity. Novo’s GLP-1 drug, Wegovy (semaglutide),

Novo Nordisk posted solid quarterly results Wednesday before the market open.Sales came in at 71.3 billion Danish crowns ($10.3 billion) and diluted earnings per share of DKK 6.12 in the third quarter.

Novo Nordisk said the side effects in trials so far for its experimental obesity drug CagriSema were similar to its GLP-1 drugs already on the market, and reiterated its expectation the new injection will deliver 25% weight loss.

Sales of Novo Nordisk’s (NVO) blockbuster weight loss drug Wegovy continue to soar, surpassing Wall Street expectations. The Danish pharma giant posted its third-quarter earnings report early Tuesday morning and boasted sales figures blowing past analysts’ projections.

Novo Nordisk is expected to report third-quarter earnings on Wednesday. Stock up 8.55% in a year, 7.45% year-to-date.

Novo Nordisk on Wednesday reported third quarter earnings broadly in line with expectations and narrowed its 2024 full-year growth guidance.

When Novo Nordisk reports earnings Wednesday morning, investors will be seeking reassurance that they haven’t overestimated the market for the new GLP-1 weight-loss medicines. W

Novo Nordisk on Wednesday reported better-than-expected quarterly sales of its popular Wegovy weight-loss drug and narrowed its 2024 outlook for the year, in a mixed set of results reflecting growing competition in the fast-growing obesity drug market.