US Stock Market Move | Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rose more than 6% as Q3 results beat expectations and the company raised its full-year guidance.

On Wednesday, Novo Nordisk A/S Sponsored ADR Class B (NVO.US) rose more than 6% to $42.64. On the news front, on November 4, the financial report released by Novo Nordisk A/S Sponsored ADR Class B showed that third-quarter adjusted sales reached DKK79.2 billion, above the market expectation of DKK73.55 billion; adjusted EBIT was DKK31.72 billion, also significantly exceeding the expected DKK28.71 billion. The company raised both its full-year adjusted sales and operating profit growth guidance to a range of -2% to +2% at constant exchange rates, better than the -6% to flat range set in August. CEO Mike Doustdar said third-quarter results were better than expected, with the obesity business portfolio performing particularly well. Chief Financial Officer Karsten Munk Knudsen said the improvement in the outlook was mainly due to increased expectations for GLP-1 product sales. Novo Nordisk A/S Sponsored ADR Class B also disclosed that the oral version of Ozempic was launched in the United States in May this year, with weekly new-to-brand prescriptions (NBRx) growing about 100% compared with the pre-launch Rybelsus brand level. The company said the Ozempic 2.0 mg dose version and the Wegovy 7.2 mg single-dose injection pen are also being rolled out at an accelerated pace in international markets.