Novo Nordisk is continuing to lose ground in the obesity and diabetes markets, with the Danish drugmaker saying it expected sales and profit growth at the lower end of its guidance this year.
The Ozempic maker, which is in the midst of a fierce battle with US rival Pfizer to buy obesity biotech Metsera, now expects 2025 sales growth of between 8 and 11 per cent at constant exchange rates. This compares with a previous forecast of 8 to 14 per cent.
The updated forecast in its latest results is driven by lower expectations for sales of Ozempic and its other blockbuster weight-loss treatment Wegovy.
The company, whose share price has fallen by more than half over the past year, also said it expected operating profit growth of between 4 and 7 per cent, compared with a previous outlook of 4 to 10 per cent. The latest figure includes a 8 billion Danish Krona (€1 billion) hit from a restructuring programme that will cut 9,000 jobs.
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The new guidance follows three cuts to profit forecasts this year.
Maziar Mike Doustdar, who was appointed chief executive in August after his predecessor was ousted following sharp falls in the share price, said the transformation plan had already created efficiencies.
“We aim to accelerate on all fronts to be able to compete better in dynamic and increasingly competitive markets,” he said. – Copyright The Financial Times Limited 2025
