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SaltWire's Atlantic regional weather forecast for October 26, 2023 | SaltWireLONDON/COPENHAGEN - When Novo Nordisk publishes third-quarter results next week investors and analysts are hoping the company will clarify when limits on the supply of starter doses of its weight-loss drug Wegovy in the United States will cease.
It has also debuted the Wegovy injection in the UK and Germany in recent months, but availability is limited even though there is enormous pent-up demand. Some analysts said a firm date would ease concerns that Novo's supply constraints could allow rival Eli Lilly to get ahead, when it launches its Mounjaro weight-loss drug.
Earlier this month, Novo raised its outlook for sales and operating profit for the full year for a third time this year, reflecting strong demand for Wegovy and its diabetes medication Ozempic, which contains the active ingredient semaglutide.Markus Manns, a portfolio manager at Union Investment in Germany and Novo shareholder, said that while easing supply restrictions were already priced into the stock, he would expect more downward pressure if supplies were further delayed.
Reuters reported in July that quality lapses at a factory in Brussels operated by Catalent which fills the syringes used in the pens, a process known as fill-finish, had caused Wegovy shortages in the U.S. throughout 2022.
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