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3d ago

Novo Nordisk Cuts 2025 Guidance and Appoints Mike Doustdar as CEO

Shares plunged after the drugmaker cited cooling demand for Wegovy & Ozempic, warning of lower full-year growth

A view shows a Novo Nordisk sign outside their office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, July 14, 2025. REUTERS/Tom Little/File Photo
A view shows a Novo Nordisk sign outside their office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, July 14, 2025. REUTERS/Tom Little/File Photo
Novo Nordisk's Chief Executive Lars Fruergaard Jorgensen talks to a journalist at the company's offices on the outskirts of Copenhagen, Denmark, March 8, 2024. REUTERS/Tom Little/File Photo
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Overview

  • The company now expects 2025 sales growth of 8%–14% and operating profit growth of 10%–16%, down from its earlier forecasts
  • U.S.-listed shares dropped about 20% in premarket trading following the guidance revision and leadership change
  • Maziar Mike Doustdar, a Novo veteran since 1992 and current EVP of International Operations, will succeed Lars Fruergaard Jørgensen as CEO on August 7
  • Prescriptions for Eli Lilly’s Zepbound have exceeded Wegovy by over 100,000 per week, reflecting escalating competition
  • Market research shows unsafe and unlawful mass compounding of GLP-1 injections has persisted since the FDA’s grace period expired on May 22, 2025