03:32 AM EDT, 09/24/2024 (MT Newswires) -- (Updates with Novo Nordisk's ( NVO ) statement in the last paragraph.)

Novo Nordisk's ( NVO ) Ozempic and Wegovy are on track to generate $65 billion in lifetime sales by the end of 2024, Bloomberg reported Monday.

The diabetes and obesity medicines have generated cumulative sales of nearly $50 billion as of the end of Q2 and will soon surpass the company's entire research budget of the past 30 years, according to an analysis by Bloomberg.

The company has spent $68 billion on all research and development since the mid-1990s on an unadjusted basis for inflation, Bloomberg said.

Novo's Chief Executive Officer Lars Fruergaard Jorgensen is set to testify about the weight-loss drugs' high prices in the US on Tuesday at a Senate hearing.

"There are other investments - such as manufacturing and spend on one single molecule's development - all which play into the picture," a Novo Nordisk ( NVO ) spokesperson told MT Newswires.

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