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Core Viewpoint - Novo Nordisk experienced a significant stock decline, with a record drop of 23% in Europe and nearly 22% in the US market, following a downward revision of its earnings guidance and a change in leadership [1][2][3]. Financial Performance - In the first half of the year, Novo Nordisk reported an 18% increase in sales and a 29% increase in operating profit (EBIT) [4][5]. - The company adjusted its full-year sales growth forecast to 8-14%, down from a previous estimate of 13-21%, and lowered its operating profit growth forecast from 16-24% to 10-16% [6][7]. Market Challenges - The decline in sales expectations is primarily attributed to weak performance of key drugs, Wegovy and Ozempic, in the US market, along with lower-than-expected market penetration for Wegovy in some international markets [7][8]. - Factors affecting Wegovy's sales include ongoing competition from GLP-1 combination drugs, slower-than-expected expansion, and the impact of illegal generic drugs [8]. Leadership Change - Novo Nordisk appointed Maziar Mike Doustdar as the new CEO, effective August 7, 2025, amid concerns over performance management [10][14]. - The previous CEO, Lars Fruergaard Jørgensen, who led the company to its top position in the global weight-loss drug market, will step down [11][12]. - Doustdar, a long-time executive, emphasized the need to focus on cost management and improve execution within the company [15].