"Novo Nordisk Exceeds Earnings Projections with Surging Demand for Wegovy and Ozempic"

Novo Nordisk, Europe's largest company by market capitalization, reported better-than-expected 2023 earnings with a 31% increase in sales driven by demand for its anti-obesity drug Wegovy and diabetes drug Ozempic. The company expects sales growth of 18% to 26% this year as demand for these drugs continues to surge. However, the increased demand has put pressure on its supply chain, leading to "periodic constraints" across its portfolio, prompting the company to invest heavily in expanding production capacity.