For the period of April to June, Novo Nordisk reported a net profit of 19.4 billion kroner (US$2.9 billion), a 46% rise compared to a year earlier.

Net sales for the period reached 54.3 billion kroner, a rise of 32% but falling short of analyst expectations of 55.1-55.5 billion, according to surveys by Bloomberg and Factset.

“We are serving more patients than ever before. The performance in the first six months has enabled us to raise the outlook for the full year,” CEO Lars Fruergaard Jorgensen said in a comment.

Over the first six months of the year, sales in the diabetes and obesity sector rose by 37% to 99 billion kronor, driven by exceptional growth in sales of obesity treatments which rose 157% to 18.1 billion kronor.

Sales of Wegovy – an obesity treatment launched in the United States two years ago – soared by 344%, with the drugmaker unable to fully meet demand.

On Tuesday Novo Nordisk announced that a study had showed that the drug reduces the risk of suffering a cardiovascular event such as a heart attack or stroke by 20%.

Following the results, the company now forecasts a 27-33% increase in annual sales, compared with the 24-30% announced in mid-April.

Operating profit is expected to rise by 31-37%, compared with the 28-34% previously forecast.

The group, which employs more than 59,000 people in 170 countries, also develops and markets treatments for haemophilia and growth disorders, where it saw sales fall by 18% in the first six months of the year, due to a temporary reduction in production.