Novo Nordisk Is Seeing Slowing Demand for GLP-1s Wegovy and Ozempic

Core Insights - Novo Nordisk has lowered its guidance due to disappointing demand for its GLP-1 weight loss and diabetes drugs, indicating increased competition in the sector [1][3][6] Financial Performance - The company reported third-quarter adjusted earnings per share of DK4.50 ($0.69), which is DK20 ($0.03) below analysts' average estimates [2] - Revenue increased by 5.1% to DK74.98 billion ($11.53 billion), also falling short of forecasts [2] Market Dynamics - Weaker results suggest growing pressure in the weight-loss drug market, with Novo Nordisk facing tougher competition, slower demand, and pricing pressures [3] - Wegovy sales rose by 18% to DK20.35 billion ($3.13 billion), but this was below expectations, while Ozempic sales increased by 3% to DK30.74 billion ($4.73 billion), which was better than anticipated [3] Revised Outlook - The company has revised its full-year operating profit growth forecast to 4% to 7% and sales growth to 8% to 11%, down from previous estimates of 4% to 20% for operating profit and 8% to 14% for sales [3] - This marks the fourth time the company has narrowed its guidance this year, reflecting lowered growth expectations for its GLP-1 treatments [3] Stock Performance - U.S.-listed shares of Novo Nordisk have lost approximately 46% of their value this year, with shares recently down about 4% [4]