Core Viewpoint - Novo Nordisk reported significant sales and operating profit growth for the first half of 2025, but has adjusted its full-year outlook downward due to lower growth expectations for key products like Wegovy® and Ozempic® in the US market [2][4]. Financial Performance - In the first six months of 2025, sales increased by 18% and operating profit grew by 29%, both at constant exchange rates (CER) [2]. - For the second quarter of 2025, sales growth was 18% and operating profit growth (EBIT) was 40% [3]. - The diluted earnings per share for the first half of 2025 was DKK 12.49 [3]. Updated Outlook - The full-year sales growth is now expected to be between 8-14%, down from a previous estimate of 13-21% [4]. - Operating profit growth is now projected at 10-16%, reduced from 16-24% [4]. - The lowered outlook is attributed to decreased growth expectations for Wegovy® and Ozempic® in the US, as well as lower-than-expected penetration in select markets [4][5]. Product-Specific Insights - Wegovy® sales in the US are affected by competition and slower market expansion, despite the launch of NovoCare® Pharmacy [5][7]. - Ozempic® faces similar challenges due to increased competition in the US market [9]. - The company is actively pursuing strategies to combat the impact of compounded GLP-1s and protect its market position [6]. Financial Items and Cash Flow - Novo Nordisk expects financial items (net) for 2025 to yield a gain of around DKK 3 billion, primarily from hedged currencies [12]. - Free cash flow is projected to be between DKK 35-45 billion, reflecting lower-than-expected sales growth [13].

Core Points - Novo Nordisk is focused on developing innovative medicines and ensuring accessibility and affordability for communities, particularly through the Wegovy® savings program [1] - The Wegovy® savings program has been updated to offer a 28-day supply for cash-paying patients at $499, down from the previous $650 per month [2] - NovoCare® Pharmacy provides home delivery of Wegovy® prescriptions along with support services for patients [3] Summary by Category Company Commitment - Novo Nordisk emphasizes its commitment to innovation and accessibility in healthcare, particularly for obesity management through Wegovy® [1] - The company aims to empower individuals living with obesity to achieve their health goals [1] Wegovy® Savings Program - The updated Wegovy® savings offer allows cash-paying patients or those with non-covering insurance to access a 28-day supply for $499, a reduction from the previous $650 [2] - Patients with commercial insurance that covers Wegovy® may pay as little as $0 per month, with a maximum savings of $225 for a 28-day supply [2] NovoCare® Pharmacy Services - NovoCare® Pharmacy facilitates home delivery of Wegovy® prescriptions and offers additional support such as benefit verification and refill reminders [3] - The pharmacy aims to enhance patient experience and ensure they receive authentic, FDA-approved Wegovy® [1][3]

Core Insights - Novo Nordisk is enhancing patient access and affordability for its weight management medication, Wegovy®, with over 55 million people in the U.S. having coverage for such medicines, and 90% of Wegovy® patients with coverage paying between $0 to $25 monthly [1] - The introduction of NovoCare® Pharmacy allows cash-paying patients to receive Wegovy® prescriptions directly at home, fulfilling orders through CenterWell Pharmacy, which has received multiple awards for customer satisfaction [1] - NovoCare® Pharmacy ensures patients receive authentic, FDA-approved Wegovy®, mitigating risks associated with the compounding marketplace, and will soon update savings offers for cash-paying patients using traditional retail pharmacies [1] Company Overview - Novo Nordisk is a leading global healthcare company with over 100 years of experience in developing innovative medicines for diabetes and other chronic diseases, including obesity [14] - The company operates U.S. headquarters in New Jersey and has commercial, production, and research facilities across seven states and Washington D.C., employing approximately 8,000 people [14] Product Information - Wegovy® (semaglutide) is an injectable prescription medicine used alongside a reduced-calorie diet and increased physical activity, specifically for weight management [3] - It is not recommended for use in children under 12 years of age and should not be used with other semaglutide-containing products or GLP-1 receptor agonists [3] Safety and Support - Wegovy® may cause serious side effects, including potential thyroid tumors, pancreatitis, and kidney problems, necessitating careful monitoring and communication with healthcare providers [7][12] - NovoCare® Pharmacy provides additional support services, including benefit verification, refill reminders, and access to live case managers to assist patients [1]