Ozempic and Wegovy maker Novo Nordisk has slashed its financial guidance for the fourth time this year as it loses ground to rivals in the fat jab wars.
The Danish company’s new boss Mike Doustdar is battling to turn around its fortunes amid competition from Eli Lilly, which makes the drugs Mounjaro and Zepbound.
Novo has also been hurt by demand for copycat drugs that use the same ingredients – with ‘well above’ 1m patients using these versions in the US, it said. Doustdar said the market was ‘more competitive than ever’.
Shares fell 4.5 per cent as operating profits for the first nine months of the year rose by 5 per cent to £11.3billion while net sales climbed by 12 per cent to £27.1billion.
Doustdar said: ‘While we delivered robust sales growth in the first nine months of 2025, the lower growth expectations for our GLP-1 treatments, for diabetes and obesity, have led to a narrowing of our guidance.’
The firm said sales are set to rise by up to 11 per cent this year, down from previous guidance of 14 per cent. And it said operating profits will rise by up to 7 per cent this year.
Ozempic and Wegovy maker Novo Nordisk’s new boss Mike Doustdar (pictured) is battling to turn around its fortunes amid competition from Eli Lilly, which makes Mounjaro
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