Novo Nordisk lowers full-year profit guidance as sales slow

Core Insights - Novo Nordisk has lowered its full-year profit and sales forecast, indicating challenges in the competitive obesity drug market [1][3] - The company is experiencing a significant share price decline and slowing sales growth, leading to a change in CEO and board restructuring [1][4] Financial Performance - Shares of Novo Nordisk rose over 2% in Copenhagen and New York prior to the announcement [2] - The company now expects full-year operating profit growth of 4% to 7% in 2025, down from the previous forecast of 4% to 10% [2] - Sales growth in local currencies is projected to be between 8% and 11% for the year, revised from the earlier range of 8% to 14% [6] Sales and Market Dynamics - Third-quarter sales of Wegovy increased by 18% to 20.4 billion crowns, falling short of the 20.9 billion crowns expected by analysts [7] - Total sales for the quarter rose 5% to 75.0 billion Danish crowns ($11.71 billion), below the forecast of 76.2 billion crowns [7] - Operating profit for the quarter decreased by 30% to 23.7 billion crowns, also below the expected 24.6 billion crowns [8] Competitive Landscape - CEO Mike Doustdar acknowledged that the lower guidance is due to reduced growth expectations for GLP-1 treatments, which are key products for the company [3] - The company faces intense competition from U.S. rival Eli Lilly and the emergence of compounded copycat drugs [4][5]