By Jacob Gronholt-Pedersen and Maggie Fick
Copenhagen / London (Reuters) -Obesity Drugmaker, Novo Nordisk, downgraded its sales forecasts in 2025 Wednesday, ending a period of four years of constant increase since the launch of its Wegovy weight loss medication, while American prescriptions have stopped growing.
The company said that sales in the first quarter of its weight loss drugs from the first market that Wegovy were 17.36 billion Danish crowns (2.64 billion dollars), down 13% compared to the previous quarter and below the 18.7 billion crowns expected by analysts.
Wegovy Miss’s demogram and sales are likely to deepen concerns among investors that Novo loses its advance on the fiercely competitive obesity market in chief rival Eli Lilly.
Wegovy’s booming sales have helped make the most precious listed company in Novo Europe, worth $ 615 billion to its peak.
But prescriptions in the United States, its largest market, have not grown up since February despite the fact that Novo has increased Wegovy’s supplies to meet demand. Novo’s market value reduced by about 310 billion dollars.
The Danish company said it expects 2025 sales growth in local currencies between 13% and 21%, compared to the 16% to 24% range at the start of the year.
It also predicts the growth of operational profits between 16% and 24% this year, compared to a previously guided range between 19% and 27%.
Analysts predict that sales and operating profit this year will increase by 17.8% and 21.5% respectively, according to a compiled consensus on the company based on 26 analysts.
“In the first quarter of 2025, we carried out sales growth by 18% and continued to extend the scope of our innovative GLP-1 treatments,” CEO Fruergaard Jorgensen said in a statement.
“However, we have reduced our annual prospects due to the penetration of GLP-1 of the brand lower than the brand, which is affected by the rapid expansion of composition in the United States,” he said.
Novo faces the competition of the Zepbound Obesity of Eli Lilly, whose American prescriptions exceed Wegovy.
Novo published profits from the first quarter before interest and taxation of 38.79 billion crowns, against 37.20 billion forecasts in a consensus compiled by the company based on 26 analysts and up 22% compared to a year ago.
(1 $ = 6.5675 Danish crowns)
(Report by Jacob Gronholt-Pedersen and Maggie Fick, edition by Terje Solsvik and Barbara Lewis)
