Ozempic maker Novo Nordisk lowers 2025 sales forecast for third time this year following weak Q3 revenue and profit performance.
COPENHAGEN: Novo Nordisk has reduced its 2025 outlook for the third time this year following disappointing third-quarter results.
The Danish pharmaceutical giant, manufacturer of Ozempic and Wegovy obesity drugs, now expects full-year 2025 sales growth of 8-11%, down from its previous 8-14% forecast.
Third-quarter revenue increased 5% to 75 billion kroner (USD 11.5 billion), falling short of market expectations.
Net profit declined 27% to 20 billion kroner, matching analyst projections from financial data firm FactSet.
The company attributed its earnings performance to one-off restructuring costs tied to its “company-wide transformation” initiative.
Novo Nordisk’s weight-loss injections previously made it an investor favourite, boosting its share price and briefly making it Europe’s most valuable company.
However, its share price has declined since last year amid growing competition from rival treatments in its key US market.
Chief executive Mike Doustdar, who took leadership in August, said the transformation has already driven operational efficiencies.
“Our company-wide transformation has already driven operational efficiencies, and we have a renewed focus that can deliver a range of potential treatment options that will serve millions more patients, mainly in obesity,” he said.
The outlook revision follows recent leadership changes, plans to cut 9,000 jobs, and replacement of more than half its board members. – AFP
