STAT+: Novo Nordisk is concluding research on Wegovy’s impact on osteoarthritis
Want to stay on top of the science and politics driving biotech today? Sign up to get our biotech newsletter in your inbox. Good morning, all. Damian here with a look at…
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Good morning, all. Damian here with a look at the future of treating Duchenne muscular dystrophy, the departure of an influential biotech CEO, and the next phase of the GLP-1 panic.
The need-to-know this morning
• Novo Nordisk reported third-quarter earnings of 5 Danish krone per share on total revenue of 58.73 billion krone — 29% higher year over year and topping consensus estimates. Sales of GLP-1 obesity drug Wegovy rose 28% to 9.65 billion krone, or $1.4 billion — beating consensus. Sales of the diabetes drug Ozempic were 23.9 billion krone, or $4.2 billion.
• Eli Lilly reported third-quarter adjusted earnings of 10 cents per share on total revenue of $9.5 billion — ahead of consensus. Sales of the diabetes drug Mounjaro were $1.4 billion, better than expected.
• Regeneron Pharmaceuticals reported third-quarter adjusted earnings of $11.59 per share on total revenue of $3.36 billion — ahead of consensus. Sales of Eylea were $1.49 billion.
• Moderna reported an adjusted third-quarter loss of $9.53 per share, driven by mostly non-cash charges related to resizing its manufacturing capacity and tax allowances. Revenue was $1.83 billion, a decrease of 47% related to lower sales of its Spikevax Covid vaccine, but still topping Wall Street’s consensus.
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