Novo Nordisk (NYSE:NVO) reported strong first-quarter results, but lowered its full-year guidance due to slower-than-anticipated U.S. market dynamics for its GLP-1 treatments.
The company posted a 19% increase in Q1 sales, reaching DKK 78.1 billion, with robust growth in diabetes and obesity care driving a 22% rise in operating profit to DKK 38.8 billion. At constant exchange rates, operating profit was up 20%, underscoring strong demand for its blockbuster GLP-1 drugs.
However, challenges in the U.S. GLP-1 market—such as inventory destocking of Wegovy and mounting competition from compounded alternatives—led the company to revise its full-year 2025 guidance. Novo now expects sales growth of 13% to 21% and operating profit growth of 16% to 24% at constant exchange rates, down from its previous forecast of 16%–24% and 19%–27%, respectively.