Novo Nordisk reported second-quarter revenue of DKK 76.9 billion, up 13% year-on-year at constant exchange rates, just shy of the DKK 77.0 billion consensus. Obesity care sales jumped 53% to DKK 20.4 billion, driven by a 75% increase in Wegovy volumes, while GLP-1 diabetes treatments grew 8% to DKK 38.4 billion. Insulin and rare disease franchises also contributed with 5% and 28% sales growth respectively. The company delivered earnings of DKK 5.96 per share, missing analyst forecasts of DKK 6.05, reflecting higher gross-to-net adjustments and competitive price pressure in key markets. Novo Nordisk terminated development of its once-weekly GLP-1/GIP co-agonist and the CB1 receptor blocker INV-347 due to portfolio prioritization despite positive Phase 2 signals. The company also halted MASH and dyslipidaemia programs following inconclusive efficacy data. To protect core assets, Novo Nordisk expanded litigation, filing 14 new suits against non-FDA-approved compounded semaglutide suppliers, bringing total legal actions to over 130 across 40 states. Courts have issued 44 permanent injunctions preventing the marketing of unsafe copy-cat products, underscoring the company’s focus on safeguarding intellectual property and patient safety. In July, Novo Nordisk cut its full-year guidance to 8–14% sales growth and 10–16% operating profit growth at constant exchange rates, down from prior targets of 10–16% and 14–20%. Management cited persistent use of compounded GLP-1 products, slower U.S. market expansion and intensifying rivalry from small-molecule and weekly injectable competitors as key headwinds. Incoming CEO Maziar Mike Doustdar has signaled cost-base efficiencies, sharpened commercial execution and continued investment in market penetration, especially in under-penetrated regions where only a few million of over 100 million eligible U.S. obesity patients are treated.
Novo Nordisk reported second-quarter revenue of DKK 76.9 billion, up 13% year-on-year at constant exchange rates, just shy of the DKK 77.0 billion consensus. Obesity care sales jumped 53% to DKK 20.4 billion, driven by a 75% increase in Wegovy volumes, while GLP-1 diabetes treatments grew 8% to DKK 38.4 billion. Insulin and rare disease franchises also contributed with 5% and 28% sales growth respectively. The company delivered earnings of DKK 5.96 per share, missing analyst forecasts of DKK 6.05, reflecting higher gross-to-net adjustments and competitive price pressure in key markets. Novo Nordisk terminated development of its once-weekly GLP-1/GIP co-agonist and the CB1 receptor blocker INV-347 due to portfolio prioritization despite positive Phase 2 signals. The company also halted MASH and dyslipidaemia programs following inconclusive efficacy data. To protect core assets, Novo Nordisk expanded litigation, filing 14 new suits against non-FDA-approved compounded semaglutide suppliers, bringing total legal actions to over 130 across 40 states. Courts have issued 44 permanent injunctions preventing the marketing of unsafe copy-cat products, underscoring the company’s focus on safeguarding intellectual property and patient safety. In July, Novo Nordisk cut its full-year guidance to 8–14% sales growth and 10–16% operating profit growth at constant exchange rates, down from prior targets of 10–16% and 14–20%. Management cited persistent use of compounded GLP-1 products, slower U.S. market expansion and intensifying rivalry from small-molecule and weekly injectable competitors as key headwinds. Incoming CEO Maziar Mike Doustdar has signaled cost-base efficiencies, sharpened commercial execution and continued investment in market penetration, especially in under-penetrated regions where only a few million of over 100 million eligible U.S. obesity patients are treated.