Novo Nordisk’s sales increased by 16% in Danish kroner and by 18% at constant exchange rates to DKK 154.9 billion in the first six months of 2025, the company states.

As a result, we are taking measures to sharpen our commercial execution further, and ensure efficiencies in our cost base while continuing to invest in future growth.

“While delivering 18% sales growth in the first half of 2025, we have lowered our full-year outlook due to lower growth expectations for our GLP-1 treatments in the second half of 2025. As a result, we are taking measures to sharpen our commercial execution further, and ensure efficiencies in our cost base while continuing to invest in future growth,” says Lars Fruergaard Jørgensen, president and CEO.

Operating profit increased by 25% in Danish kroner and 29% at constant exchange rates (CER) to DKK 72.2 billion, reports the company. In addition, aales in US Operations increased by 16% in Danish kroner (17% at CER). Sales in the US were positively impacted by gross-to-net sales adjustments related to prior years, including an adjustment related to the 340B provision of around DKK 3 billion in the second quarter of 2025. Sales in International Operations increased by 16% in Danish kroner (19% at CER).

Sales within Diabetes and Obesity care increased by 16% in Danish kroner to DKK 145.4 billion (18% at CER), mainly driven by Obesity care growth of 56% in Danish kroner to DKK 38.8 billion (58% at CER) and GLP-1 diabetes sales growing 8% in Danish kroner (10% at CER). Rare disease sales increased by 14% measured in Danish kroner (15% at CER).

Within R&D, Novo Nordisk will advance subcutaneous and oral amycretin into phase 3 development in weight management based on completed clinical studies during the first quarter of 2025. Further, within obesity, REDEFINE 11 has been initiated to investigate further the potential efficacy and safety of CagriSema, and semaglutide 7.2 mg (a higher dose of Wegovy) has been submitted to the EU regulatory authorities.

Novo Nordisk cut its full-year sales and profit forecasts last week, wiping USD 95 billion off its market value since.

Novo Nordisk cut its full-year sales and profit forecasts last week, wiping USD 95 billion off its market value since. The shares were down 3.4% at 1350 GMT. The company is now evaluating potential cost-cutting measures.

“We probably won’t be able to avoid layoffs”

“We probably won’t be able to avoid layoffs,” Lars Fruergaard Jorgensen, former CEO, told Danish broadcaster DR. “When you have to adjust a company, there are some areas where you have to have fewer people, some (areas) where you have to be smaller.”

The 2025 outlook

For the 2025 outlook, sales growth is now expected to be 8-14% at CER, and operating profit growth is now expected to be 10-16% at CER, states the company. Sales and operating profit growth reported in Danish kroner is now expected to be 3 and 5 percentage points lower than at CER, respectively. The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025, reflecting the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition.

The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025, reflecting the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition.

The outlook is related to lower growth expectations for Wegovy in the US obesity market, for Ozempic in the US GLP-1 diabetes market as well as for Wegovy in select IO markets. Novo Nordisk continues the global rollout of Wegovy to more markets and invests in commercial activities towards driving market penetration for both Wegovy and Ozempic.

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He is the new CEO of Novo Nordisk

Maziar Mike Doustdar has been appointed President and Chief Executive Officer of Novo Nordisk.


Research & Early Development and Development EVP areas will be merged into a combined R&D unit

Novo Nordisk has decided to merge the company’s Research & Early Development with its Development area into a new, consolidated R&D unit, under the leadership of Martin Holst Lange. Martin Holst Lange, currently executive vice president, Development, will be appointed chief scientific officer (CSO), effective 7 August.

Martin Holst Lange will focus on combining the two functions, quickly advancing the innovation of new therapies and ensuring the success of the early and late-stage pipelines, with a significant focus on the diabetes and obesity areas. In addition, Martin Holst Lange will work closely with Mike Doustdar to drive pipeline development and innovation from both within and outside of the company, describes the company.

Marcus Schindler, executive vice president, Research & Early Development and CSO, has decided to retire from the company.

Emil Kongshøj Larsen, currently senior vice president of the Europe and Canada region (EUCAN), will join Executive Management and succeed Mike Doustdar, assuming the responsibility of executive vice president, International Operations. Emil Larsen currently leads a region spanning 40 countries, accounting for about 20% of Novo Nordisk’s global sales. He has previously led other significant business areas throughout Europe, Africa and the Middle East, as well as Commercial Affairs and Strategy in International Operations.