Novo Boosts Wegovy Shipments as Lilly Rivalry Pressures Prices

(Bloomberg) -- Novo Nordisk A/S is shipping more introductory doses of its blockbuster weight-loss drug Wegovy in the US as it grapples with supply constraints and competition from Eli Lilly & Co.

Wegovy sales more than doubled to 9.38 billion kroner ($1.35 billion) in the first quarter, but the number fell short of analysts’ estimates due to pricing pressure. In a sign of investors’ focus on the obesity medicine, the stock declined even though quarterly profit surged and the company raised its forecast.