Novo Nordisk cuts guidance as competition hits sales of Ozempic, Wegovy

(Sharecast News) - Danish pharma giant Novo Nordisk has narrowed and lowered its guidance range for sales growth this year as heightened competition from cheaper weight-loss treatments continues to dampen the outlook for its breakthrough Ozempic and Wegovy drugs.

The company now expects sales to increase by 8-11% at constant exchange rates in 2025, compared with earlier guidance of 8-14%, due to lower growth expectations for the company's GLP-1 treatments for diabetes and obesity.

Operating profit growth guidance was also cut to 4-7% from 4-10% previously, which includes a DKK8bn (�940m) hit from its restructuring programme. The company had started the year off by initially forecasting a 19-27% increase in operating profits.

When reported in Danish kroner, these growth targets are expected to be 4 to 6 percentage points lower.

"While we delivered robust sales growth in the first nine months of 2025, the lower growth expectations for our GLP-1 treatments have led to a narrowing of our guidance," said president and chief executive Mike Doustdar.

"We aim to accelerate on all fronts to be able to compete better in dynamic and increasingly competitive markets," he said.

Ozempic and Wegovy, while both used for weight loss, differ slightly given that Ozempic's primary use is as a treatment for Type 2 diabetes to manage blood sugar levels, while Wegovy is used as an appetite suppressant.

However, while the distribution of lower-cost versions by compounding pharmacies was scheduled to stop in May, mass compounding has continued, Novo Nordisk claims.

Over the first nine months of the year, total net sales were up 12% at DKK229.9bn, while operating profits grew 5% to DKK95.9bn. At constant currency, top and bottom-line growth would have been 15% and 10%, respectively.

The stock, which has fallen by nearly a fifth over the past month and by 50% since the start of 2025, was trading 1.5% higher at DKK319.95 by 1050 in Copenhagen.