A field of Ozempic sits on a desk in North Tyneside, Britain, Oct. 31, 2023.
Lee Smith | Reuters
Danish pharmaceutical big Novo Nordisk mentioned Wednesday it’s trimming its progress expectations for its main weight problems and diabetes therapies as competitors intensifies and pricing pressures mount within the weight reduction market.
Web revenue for the quarter got here in at 20 billion Danish kroner ($3.1 billion) according to the 20.12 billion Danish kroner anticipated by analysts in a FactSet ballot.
Diabetes and weight problems care had been a key progress driver following the uptake of Wegovy and Ozempic, nonetheless the corporate lowered its expectations for progress, citing prescription traits, competitors and pricing strain.
Novo narrowed its full-year steering for the fourth time this yr, saying it now expects gross sales progress throughout the vary of 8% to 11% at fixed alternate charges, in comparison with a earlier forecast of 8% to 14%. It additionally lowered its expectations for working revenue progress of 4% to 10% to a brand new forecast of 4% to 7%.
Gross sales of its blockbuster weight reduction drug Wegovy rose 18% year-on-year to hit 20.35 billion Danish kroner within the three months to September, barely beneath the 21.35 billion kroner anticipated by analysts.
Working revenue for the primary 9 months of 2025 got here in 10% increased in comparison with the identical interval the yr prior, at 95.9 billion kroner, although the corporate famous that this is able to have elevated by 21% if it wasn’t for restructuring prices of round 9 billion kroner.
“Whereas we delivered sturdy gross sales progress within the first 9 months of 2025, the decrease progress expectations for our GLP-1 therapies have led to a narrowing of our steering,” Mike Doustdar, president and CEO mentioned in an announcement.
“We intention to speed up on all fronts to have the ability to compete higher in dynamic and more and more aggressive markets,” he added, noting the acquisition of Akero Therapeutics Inc. and progress testing one other weight administration drug.
Novo’s Copenhagen-listed shares have tumbled greater than 50% over the course of this yr, as a slew of headwinds has shaken investor confidence in what was as soon as Europe’s Most worthy agency.
Alongside a sequence of disappointing trial outcomes, growing competitors within the weight problems drug house and challenges arising from U.S. insurance policies on drug pricing and tariffs, Novo has been contending with management shakeups and pushback in opposition to a key acquisition.
Analysts, because of this, have been combined on the inventory. Jefferies not too long ago minimize its score to underperform whereas Berenberg is constructive on the inventory, saying Novo has hit “peak uncertainty.”
“Novo’s superior progress profile and best-in-class R&D returns warrants a better valuation premium to its friends,” the financial institution mentioned.
Metsera bid
Novo launched a rival bid to accumulate American weight problems biotech agency Metsera final week, superseding a proposal for the agency from U.S. pharma big Pfizer. On Monday, Pfizer mentioned it had filed a second lawsuit in opposition to Novo and Metsera, arguing that Novo’s bid for the smaller firm was anticompetitive.
A spokesperson for Novo mentioned in an announcement that Pfizer’s allegations had been “false and with out benefit.”
Novo then ramped up its bid for Metsera on Tuesday, saying it was now providing as much as $10 billion in comparison with the sooner supply of round $9 billion.
“Novo Nordisk believes that the proposal, together with the construction of the transaction, complies with all relevant legal guidelines and is in the very best curiosity of sufferers who will profit from our dedication to innovation, in addition to Metsera’s shareholders,” the corporate mentioned in an announcement, noting that the deal was additionally topic to the time period’s of Pfizer’s merger settlement with Metsera.
Metsera mentioned on Tuesday that the revised supply was “superior” to a revised bid made by Pfizer.