Novo Nordisk Forecasts Slower Sales Growth amid Competition
Lars Fruergaard Jorgensen, CEO of Novo Nordisk, recently announced that the company predicts a lower sales growth forecast for 2025 compared to 2024. This news has sparked concerns among investors as Novo Nordisk faces increased competition in the obesity treatment market, primarily from Eli Lilly.
The Danish pharmaceutical company anticipates sales growth of 16-24% in 2023, a revised estimate from the previous year's forecast. This adjustment reflects a decline in demand for Wegovy and Ozempic, its obesity and diabetes drugs, respectively, which share the same active ingredient.
Despite this setback, Novo Nordisk remains committed to its commercial strategy, advancing its R&D pipeline, and increasing production capacity.
In the fourth quarter of 2022, from October to December, Novo Nordisk reported a 37% increase in operating profit to 36.7 billion Danish crowns. This figure surpassed analyst estimates of 33.6 billion crowns.