Ozempic maker Novo Nordisk lowers growth outlook for its weight loss drugs as pricing pressures mount

Core Insights - Novo Nordisk has lowered its growth expectations for its obesity and diabetes treatments due to prescription trends, competition, and pricing pressure [2][4] - The company's net profit for the quarter was 20 billion Danish kroner ($3.1 billion), slightly below analyst expectations [1][4] Financial Performance - Net profit for the quarter was 20 billion Danish kroner ($3.1 billion), aligning closely with the anticipated 20.12 billion Danish kroner [1] - Novo Nordisk's shares have dropped over 50% this year, reflecting investor concerns [4] Market Dynamics - The growth in diabetes and obesity care was initially driven by the uptake of Wegovy and Ozempic, but recent trends have prompted a reassessment of growth expectations [2] - Increasing competition in the obesity drug market and challenges from U.S. drug pricing policies have contributed to the company's revised outlook [4] Analyst Sentiment - Analysts have mixed views on Novo Nordisk's stock, with Jefferies downgrading it to underperform, while Berenberg maintains a positive outlook, citing "peak uncertainty" [5] - Berenberg believes Novo's growth profile and R&D returns justify a higher valuation compared to peers [5] Acquisition Activity - Novo Nordisk has made a rival bid to acquire American biotech firm Metsera, increasing its offer to up to $10 billion, surpassing Pfizer's previous bid [7][8] - Pfizer has filed a lawsuit against Novo and Metsera, claiming Novo's bid is anticompetitive, which Novo has denied [7][8] - Metsera has indicated that Novo's revised offer is superior to Pfizer's latest bid [8]