Obesity drugmaker Novo Nordisk warned on Tuesday that full-year sales and operating profit would grow less than previously expected, marking its second forecast cut of 2025.
The maker of weight-loss drug Wegovy is struggling to convince investors it can remain competitive in the obesity drug boom against U.S. rival Eli Lilly. Novo shares have fallen sharply over the past year.
"The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025," the company said in a statement.
"This is related to lower growth expectations for Wegovy in the U.S. obesity market, lower growth expectations for Ozempic in the U.S. GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy in select IO markets," it said.
Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13-21% range. It also lowered its operating profit growth forecast to 10%-16%, from a prior outlook of 16-24%.
The maker of weight-loss drug Wegovy is struggling to convince investors it can remain competitive in the obesity drug boom against U.S. rival Eli Lilly. Novo shares have fallen sharply over the past year.
"The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025," the company said in a statement.
"This is related to lower growth expectations for Wegovy in the U.S. obesity market, lower growth expectations for Ozempic in the U.S. GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy in select IO markets," it said.
Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13-21% range. It also lowered its operating profit growth forecast to 10%-16%, from a prior outlook of 16-24%.
