Drugmakers have poured small fortunes into the development of weight loss medicines in the past few years in attempts to lead this lucrative and fast-growing market. However, Novo Nordisk (NYSE: NVO),

The Danish maker of Ozempic and Wegovy reported a 25 percent increase in sales to $40.6 billion, but said it expected slower growth this year.

Novo Nordisk emissions grew 23% in 2024, the company said on Wednesday, and will keep rising through the end of the decade as it boosts production of blockbuster obesity drug Wegovy. The company is spending billions to ramp up its Wegovy output as demand soars.