12 Most Profitable Pharmaceutical Stocks Right Now

6. Novo Nordisk A/S (NYSE:NVO)

Net Income Growth 5y: 19.59%

Novo Nordisk A/S (NYSE:NVO) is a Danish multinational pharmaceutical company that specializes in the discovery, development, and delivery of innovative biological medicines. The company’s primary focus is on treating serious chronic diseases, particularly diabetes, obesity, and rare blood and endocrine disorders.

In Q3 2024, Novo Nordisk A/S (NYSE:NVO) reported strong financial performance, with a 24% sales growth and a 22% operating profit growth in the first nine months of the year. This growth was driven by increased demand across North America and international markets, particularly in diabetes treatments (26% growth in GLP-1 sales) and obesity care (44% growth, fueled by Wegovy’s 77% sales increase).

The company’s operating profit growth reflects efficient commercial execution and cost management despite higher investments in capital expenditures. However, total carbon emissions rose by 34% due to scaling operations.

Over the past three years, Novo Nordisk A/S (NYSE:NVO) has tripled its patient reach for GLP-1 treatments, now serving 11.5 million patients globally. The corporation also achieved a 33.9% global market share in diabetes, surpassing its 2025 goal. A recent trial for oral semaglutide showed a 14% reduction in major cardiovascular events, which could lead to an expanded cardiovascular label, strengthening its market position.

As of Q3 2024, 61 hedge funds had the company in their portfolios, based on data from the Insider Monkey database. The largest shareholder was Fisher Asset Management, with holdings valued at $1.5 billion. Street analysts have a consensus rating of Moderate Buy for the stock.