Novo Nordisk cuts FY sales and operating profit outlook, shares tumble
By Michele Maatouk
Date: Tuesday 29 Jul 2025
(Sharecast News) - Novo Nordisk tumbled on Tuesday after the Danish pharmaceutical group cut its sales and operating profit outlook for 2025.
The obesity drug maker now expects full-year sales growth of between 8% and 14% and operating profit growth of 10% to 16%, both at constant exchange rates. It had previously forecast sales growth of 13% to 21% and operating profit growth of between 16% and 24%.
The downgraded sales outlook for 2025 is driven by lower growth expectations for the second half of 2025. This is related to lower growth expectations for Wegovy in the US obesity market, lower growth expectations for Ozempic in the US GLP-1 diabetes market, and lower-than-expected penetration for Wegovy in select IO markets.
For Wegovy in the US, the sales outlook reflects "the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition," it said.
Compounded GLP-1s are made by pharmaceutical companies not connected to the manufacturers of the brand-name products. They are not FDA-approved generic medications.
"Despite the expiry of the FDA grace period for mass compounding on 22 May 2025, Novo Nordisk market research shows that unsafe and unlawful mass compounding has continued, and that multiple entities continue to market and sell compounded GLP-1s under the false guise of 'personalisation'," it said.
The company said it was pursuing multiple strategies, including litigation, to protect patients from "knockoff 'semaglutide' drugs".
Novo Nordisk said first-half sales rose 18% at constant exchange rates, while operating profit increased 29%.
Also on Tuesday, the company announced the appointment of Maziar Mike Doustdar as president and chief executive officer, effective 7 August.
Doustdar succeeds Lars Fruergaard Jørgensen, who will step down as president and chief executive officer on the same date.
At 1305 BST, the shares were down 22% at DKK 351.90.
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