Novo Nordisk Lowers Growth Outlook and Reports Mixed Results Amid Restructuring and Competition
Nov 5, 2025
Novo Nordisk, the Danish pharmaceutical company known for its diabetes and obesity drugs Ozempic and Wegovy, reported a 12% increase in sales in Danish kroner and a 15% rise at constant exchange rates for the first nine months of 2025. However, the company's operating profit was affected by one-off restructuring costs of approximately DKK 9 billion as it seeks to streamline operations and reinvest for future growth.
Despite these costs, Novo Nordisk's underlying operating profit would have grown more strongly. The company also beat quarterly sales forecasts, providing some positive news for its new CEO, Mike Doustdar, during his first quarter in charge.
Novo Nordisk has lowered its full-year profit and sales forecasts for the third time this year, citing increasing competition, pricing pressures, and the emergence of generic versions of its flagship drugs Ozempic and Wegovy. This has unsettled investors, leading to a decline in the company's share price.
Additionally, Novo Nordisk has agreed to accept U.S. Medicare's negotiated prices for Ozempic, Wegovy, and Rybelsus, which will take effect from January 2027 as part of new regulations.
Amid these challenges, the company continues to invest in research and development, presenting positive new data for its experimental obesity pill. The pill has shown benefits for blood sugar control and cardiovascular health, similar to its injectable medicine, ahead of an expected U.S. approval.
Why did Novo Nordisk lower its profit and sales outlook?
The company is facing stronger competition, falling prices, and the introduction of generic versions of its main drugs, which has affected its growth expectations.
What impact did restructuring costs have on Novo Nordisk's profits?
One-time restructuring costs reduced operating profits, but without these expenses, profits would have increased more than reported.
How will U.S. Medicare price negotiations affect Novo Nordisk?
Novo Nordisk has agreed to new U.S. Medicare prices for some of its drugs, which will apply from January 2027. This may affect future revenues from those products.
What progress has Novo Nordisk made in developing new medicines?
Novo Nordisk presented promising results for its new experimental obesity pill, showing it can improve blood sugar and heart health, similar to its existing injections.
Sources
Novo Nordisk's sales increased by 12% in Danish kroner and by 15% at CER in the...
GlobeNewsWire
GlobeNewsWire
Operating profit increased by 5% in Danish kroner and 10% at constant exchange rates (CER) to DKK 95.9 billion, impacted by one-off restructuring costs of around DKK 9 billion related to the company-wide transformation with the aim of streamlining Novo Nordisk's operations to reinvest for growth. Ha...
Ozempic Maker Novo Nordisk Lowers Growth Outlook of Its Blockbuster Drugs
WSJ
WSJ
Intensifying competition, pricing pressure and copycat versions of Ozempic and Wegovy hold back sales at the pharma giant.
Ozempic maker Novo Nordisk lowers growth outlook for its weight loss drugs as pr...
CNBC
CNBC
A slew of headwinds has shaken investor confidence in what was once Europe's most valuable firm. Novo Nordisk is currently locked in a bidding war with Pfizer for U.S. biotech firm Metsera.
Novo Nordisk Q3 sales beat forecasts in new CEO's maiden quarter
Reuters
Reuters
Wegovy-maker Novo Nordisk on Wednesday reported third-quarter sales growth of 15%, beating forecasts in a boost to the Danish drugmaker's new CEO amid a deep restructuring drive to claw back lost ground in a fierce obesity drug market battle.
Novo Nordisk cuts profit forecast as new CEO faces rocky start
Invezz
Invezz
Novo Nordisk lowered its full-year profit forecast on Wednesday, marking an early challenge for newly appointed CEO Mike Doustdar as the Danish drugmaker grapples with slowing sales and a fast-changing obesity drug market.
Novo Nordisk accepts Ozempic, Wegovy and Rybelsus prices in US Medicare negotiat...
Reuters
Reuters
Novo Nordisk said on Wednesday it has accepted the U.S. Inflation Reduction Act (IRA)'s maximum fair price for its diabetes and obesity medicines Ozempic, Wegovy and Rybelsus, which will become effective in January 2027.
Novo Nordisk says its head of manufacturing is stepping down
Reuters
Reuters
Wegovy maker Novo Nordisk said on Wednesday that its executive vice president in charge of manufacturing was stepping down.
Novo Nordisk Skids After Cutting Its Outlook For The Third Time This Year
Investors Business Daily
Investors Business Daily
Novo Nordisk stock skidded early Wednesday after the Wegovy and Ozempic maker cut its sales outlook for the third time this year.
Watch CNBC's full interview with Novo Nordisk CEO Mike Doustdar
CNBC International TV
CNBC International TV
Mike Doustdar, new CEO of Ozempic maker, Novo Nordisk discusses his strategy for the future of the company.
Novo Nordisk's obesity pill shows cardiovascular benefits, comparable efficacy t...
Reuters
Reuters
Wegovy-maker Novo Nordisk presented new data on Wednesday showing its experimental weight-loss pill improved blood sugar control and reduced cardiovascular risk factors, bolstering the Danish drugmaker's case for the treatment ahead of an expected U.S. approval by year-end.
Novo Nordisk Is Seeing Slowing Demand for GLP-1s Wegovy and Ozempic
Investopedia
Investopedia
U.S.-listed shares of Novo Nordisk (NVO) fell after the drugmaker scaled back its outlook, citing disappointing demand for its GLP-1 weight loss and diabetes drugs as competition in the sector increases.
Novo Nordisk Q3 Earnings & Revenues Miss, GLP-1 Drugs Face US Hurdles
Zacks Investment Research
Zacks Investment Research
NVO's Q3 profit and revenues miss expectations as Wegovy and Ozempic growth slows amid U.S. compounding and pricing headwinds.
Novo Nordisk slashes full-year sales forecast amid competition in diabetes and o...
Proactive Investors
Proactive Investors
Novo Nordisk (NYSE:NVO) shares moved lower after the drugmaker posted weaker-than-expected revenue growth for Q3 and adjusted its full-year guidance, citing reduced growth expectations for its diabetes and obesity products amid increased competition and pricing pressure. Novo Nordisk downwardly rev...
Novo Nordisk Q3: Why I'm Not Giving Up Yet
Seeking Alpha
Seeking Alpha
Novo Nordisk A/S shares have plunged nearly 70%, yet the company remains a leader in GLP-1 and obesity drugs with strong growth catalysts. Despite fierce competition and a recent reset phase, NVO's Q3 2025 showed net sales up 15% at CER and operating profit up 21% excluding one-offs. Obesity Care, l...
Why Novo Nordisk's Q3 Miss Is A Buying Opportunity
Seeking Alpha
Seeking Alpha
Novo Nordisk A/S delivered mixed Q3 '25 results, with modest revenue growth but a 27% drop in net profit due to higher financing costs. NVO's GLP-1 franchise, led by Ozempic and Wegovy, faces moderated growth and supply constraints, yet remains a key revenue driver at 49% of sales. Promising Phase 3...
Novo Nordisk: Problems Compound, But Stock Still Cheap (Rating Downgrade)
Seeking Alpha
Seeking Alpha
Novo Nordisk A/S is downgraded to Buy due to emerging risks in the weight loss sector and recent Q3 2025 earnings results. NVO stock's valuation remains historically low, showing signs that a lot of risks may be priced in. A potential partnership with Hims could boost NVO's revenue growth through ne...
Pfizer is preparing to sweeten its offer again for Metsera, the weight-loss drug...
WSJ
WSJ
Pfizer is preparing to sweeten its offer again for Metsera, the weight-loss drug startup at the center of a bidding war that also involves Novo Nordisk.
Novo, Lilly shares rise as Trump obesity drug deal nears
Reuters
Reuters
Shares of obesity drugmakers Eli Lilly and Novo Nordisk rose early on Thursday in anticipation of a White House deal that would reduce prices of their blockbuster weight-loss treatments in return for expanded market access.
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