Novo CEO says setbacks demand faster research, acquisitions as investors fret over pipeline

Doustdar said the Wegovy pill, launched this year in the U.S., Britain and the United Arab Emirates, had captured around 90% of the oral obesity market despite competition from Lilly's pill. He said Novo planned to launch the drug in Germany "soon".

Chief Financial Officer Karsten Munk Knudsen said the upgraded outlook was driven by stronger-than-expected GLP-1 sales and growth outside the U.S., while Novo still expects U.S. sales to decline this year.

Doustdar said the failure of cardiovascular drug ziltivekimab in a trial, reported on Friday, and a new trial setback for obesity and diabetes drug CagriSema, disclosed on Tuesday, would not change the company's strategy.

It would instead lead Novo to accelerate research and look harder for deals rather than become more cautious, he said.

The CagriSema results marked the latest setback following earlier trial disappointments for the drug, which Novo plans to launch next year.