Novo Nordisk came with a surprising message on Tuesday that it expects meager sales and profits this year. The Danish company behind diabetes and weight loss drugs Ozempic and Wegovy grew like a weed, but is increasingly suffering from competition.
The pharmaceutical company already issued a profit warning in May, after opening 2025 with excellent growth figures. Novo Nordisk became world famous because various celebrities used Ozempic and later Wegovy to lose weight.
“The reduced sales expectation for 2025 is the result of lower growth expectations for the second half of that year,” the company writes.
Weight loss pills from competitor Eli Lilly are becoming increasingly popular
Novo Nordisk mainly has a lot of competition from the American Eli Lilly, which also sells weight loss pills. As a result, Americans are more likely to leave the Danish products, which can only be injected with a needle.
Novo Nordisk expects sales growth of 8 to 14 percent for the whole of 2025, lower than the previous expectation of 13 to 21 percent. The Danish company is also reducing profit growth to 10 to 16 percent. That was previously 16 to 24 percent.
The company also appointed a new CEO on Tuesday, after the sudden departure of Lars Fruergaard Jørgensen earlier this year. Maziar Mike Doustdar, the new chairman of the board, must see to it that sales of Ozempic and Wegovy increase again.
Novo Nordisk will publish the figures for the second quarter on August 6.