Overview

• Novo Nordisk reported a Q1 net profit of 29 billion Danish kroner, a 14% year-on-year increase, and 19% sales growth, though Wegovy sales fell short of analyst expectations.
• The company reduced its 2025 sales growth forecast to 13–21%, citing competition from compounded GLP-1 drugs in the U.S. as a key factor dampening branded uptake.
• U.S. compounding pharmacies, which captured about one-third of the obesity drug market, must cease unapproved Wegovy and Ozempic copies by May 22 following an FDA ruling.
• Novo Nordisk anticipates a recovery in U.S. Wegovy sales in the second half of 2025, supported by FDA enforcement and a new CVS Caremark formulary prioritizing Wegovy over Eli Lilly's Zepbound starting July 1.
• The FDA accepted Novo's application for an oral GLP-1 treatment, which could become the first daily pill for obesity if approved, with a decision expected later this year.