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The drugmaker behind Ozempic and Wegovy has cut its sales and profit targets in the face of intense competition from other weight-loss and diabetes treatments.
Novo Nordisk warned over weaker-than-expected profits amid the recent growth of US rival Eli Lilly’s Mounjaro and Zepbound injection treatments.
The boss of the Danish pharmaceutical firm linked its reduced guidance to the market for weight-loss treatments being “more competitive than ever”.
Mike Doustdar, chief executive of Novo Nordisk, said: “While we delivered robust sales growth in the first nine months of 2025, the lower growth expectations for our GLP-1 treatments, for diabetes and obesity, have led to a narrowing of our guidance.”
The firm said sales are set to rise by up to 11% this year. It had previously guided towards growth of up to 14%.
It also reported that operating profits will rise by up to 7% this year, pulling down its previous guidance of up to 10%.
It came as the business reported that sales in its diabetes and obesity care division grew by 12% in Danish kroner, or 15% at constant currency rates, over the first nine months of 2025.
This included a stronger performance across obesity, with 7% growth in the diabetes-focused part of the division, which includes Ozempic.
Meanwhile, operating profits grew by 5%, or 10% at constant currency rates, for the year so far.
It said this included a nine billion kroner (£6.7 billion) impact from one of restructuring costs.
This came after the company launched a major overhaul in September, which included plans to cut around 9,000 jobs globally.
Mr Doustdar added: “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.
“We aim to accelerate on all fronts to be able to compete better in dynamic and increasingly competitive markets.”
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