Novo Nordisk's Slower Growth Forecast Raises Investor Concerns

Novo Nordisk projects slower sales growth for 2025 compared to 2024, worrying investors about losing competitiveness to Eli Lilly. The Danish company announced a 16-24% sales growth forecast for 2024, hindered by declining demand for its obesity drug Wegovy and diabetes drug Ozempic.

Danish pharmaceutical giant Novo Nordisk announced on Wednesday that it anticipates a slowdown in sales growth for 2025 compared to the previous year. This has stirred investor unease regarding the company's competitiveness in the obesity market against its primary rival, Eli Lilly.

The company has adjusted its sales growth forecast for the current year to between 16% and 24%, a less optimistic projection than initially anticipated. The revision comes amid reduced demand for its flagship obesity drug Wegovy and diabetes drug Ozempic, both of which share the same active ingredient.

Novo Nordisk CEO Lars Fruergaard Jorgensen reiterated the company's commitment to enhancing its commercial execution, advancing its research and development pipeline, and expanding production capacity well into 2025.