Novo Nordisk Lowers Sales Forecast and Appoints New CEO

• Novo Nordisk has lowered its sales forecasts and profit outlook for 2025
• Market head Mike Daoudstar has been appointed as the new CEO of the company
• Competition from Eli Lilly has impacted sales results

Danish company Novo Nordisk, manufacturer of weight loss drugs Wegovy and Ozempic, has lowered its forecasts for sales and operational profit for 2025, which resulted in a decline of its stock by more than 20%.

The company announced that the new sales forecasts for 2025 will be between 8%-14%, which is lower than the previous range of 13%-21%. Operational profit is expected to be at the level of 10%-16%, whereas earlier it was forecasted to increase by 16%-24%. These changes are related to a slowdown in market growth for weight loss drugs in the U.S. and decreased demand for Ozempic.

The situation is complicated by competition from Eli Lilly and the emergence of generic versions of drugs in the market. Novo Nordisk also announced its intention to take measures, including legal actions, against unauthorized versions of its medications.

At the same time, the company announced the appointment of a new general director, Maziar Maik Daoudstar, who previously held the position of vice president of international operations. He will take this position starting September 7, replacing Lars Fruehgaard Jorgensen, whose departure was unexpected for investors.

Along with the forecasts, the company will publish results for the first half of the year on September 6.

Tags: Economy