Danish drugmaker Novo Nordisk has cut sales and profit forecasts due to lower-than-expected US take-up of its blockbuster GLP-1 obesity and diabetes drugs.
Revenues for the maker of Ozempic and Wegovy rose 18 per cent and operating profits 20 per cent at constant exchange rates in the first quarter of this year, but the pharmaceuticals group said it was being hit by compounding – preparations custom-made by pharmacies using the active ingredients of patented drugs.
Sales growth for this year is now expected to be 13 to 21 per cent at constant exchange rates, compared with earlier guidance of 16 to 24 per cent. Operating profit growth is forecast at 16 to 24 per cent, compared with a previous range of 19 to 27 per cent, the company said.
“In the first quarter of 2025, we delivered 18 per cent sales growth and continued to expand the reach of our innovative GLP-1 treatments,” said Lars Fruergaard Jørgensen, president and chief executive.
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“However, we have reduced our full-year outlook due to lower-than-planned branded GLP-1 penetration, which is impacted by the rapid expansion of compounding in the US.” – Copyright The Financial Times
