Novo Nordisk A/S (NYSE:NVO) raised its FY23 guidance as sales of its blockbuster obesity and weight-loss drugs continue to surge.

The success of the weight-loss drug Wegovy and diabetes treatment Ozempic has helped the Danish pharmaceutical giant surge to make it Europe's most valuable company. 

In a statement, the company said it expects 2023 sales growth in local currencies of 32%-38%, from 27% to 33% previously.

Operating profit growth is seen at 40%-46%, from 31%-37%.

"The sales outlook for 2023 is updated, primarily reflecting higher full-year expectations for Ozempic volumes sold in the U.S. and gross-to-net sales adjustments for Ozempic and Wegovy in the U.S.," it said.

Q3 sales rose 38% on the year in local currencies, while operating profit was 47% above last year's level, the company added.

Novo Nordisk shares got a boost this week after the drugmaker decided to stop the kidney outcomes trial FLOW on early signs for efficacy.

Price Action: NVO shares are up 1.36% at $101.54 on the last check Friday.