Novo Nordisk, a big company, did not make as much money as expected in the last three months. Their profit was 20.05 billion Danish kroner, which is less than what people thought it would be. They also made less money from sales than predicted. This made their profit outlook decrease for the whole year. Their shares fell by 6.85% when the markets opened. Novo Nordisk sells a weight loss drug called Wegovy, which did well in the second quarter. Sales of Wegovy went up by 55%. The company faces competition from other companies making similar drugs. Despite this, Wegovy got approval to be sold in China and was recommended in the U.K. and Europe. This is an ongoing story, and more updates will be available soon.
Vocabulary List:
- Profit /ˈprɒfɪt/ (noun): The financial gain obtained when revenue exceeds expenses.
- Sales /seɪlz/ (noun): The exchange of goods or services for money.
- Competition /ˌkɒmpəˈtɪʃən/ (noun): The rivalry between companies to attract customers.
- Outlook /ˈaʊtlʊk/ (noun): The likely future situation or forecast.
- Approval /əˈpruːvəl/ (noun): The consent or agreement for something to take place.
- Recommendation /ˌrekəmenˈdeɪʃən/ (noun): An endorsement or suggestion made to guide decisions.
How much do you know?
What was Novo Nordisk's profit in the last three months?
By what percentage did Novo Nordisk's shares fall when the markets opened?
How much did the sales of Wegovy Novo Nordisk's weight loss drug increase by in the second quarter?
In which country was Wegovy approved to be sold?
Where was Wegovy recommended for sale in addition to China?
What impacted Novo Nordisk's profit outlook for the whole year?
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