Overview

• Novo Nordisk reported a Q1 net profit of 29.03 billion Danish kroner, exceeding analyst expectations, but sales of Wegovy fell slightly short at 17.36 billion kroner.
• The company reduced its 2025 sales growth forecast to 13%-21% and operating profit growth forecast to 16%-24%, citing increased competition and compounded drug alternatives in the U.S.
• The FDA has mandated compounding pharmacies to cease producing semaglutide-based drugs like Wegovy by May 22, following the declared end of a drug shortage.
• U.S. prescriptions of Wegovy have not grown since February despite Novo Nordisk increasing production, reflecting a plateau in its largest market.
• Eli Lilly's competing GLP-1 drugs, Mounjaro and Zepbound, along with emerging generics and new entrants, are intensifying competition in the weight-loss and diabetes treatment market.