Novo Nordisk trims outlook as GLP-1 competition spurs 9,000-job plan

Novo Nordisk cut its full‑year profit and sales forecasts on Wednesday, citing intensifying competition in the market for weight loss and diabetes drugs and unveiling a major restructuring that will eliminate about 9,000 jobs worldwide. The Danish drugmaker said the moves follow slower growth for its GLP‑1 diabetes and obesity treatments, including Wegovy and Ozempic, amid rising pressure from rivals and alternative products, and reported third‑quarter results that missed some analyst expectations.

The company now expects full‑year sales growth in local currencies of 8 to 11 percent, down from a previous range that went as high as 14 percent, and operating profit growth of between 4 and 7 percent, below its earlier 10 to 16 percent forecast. Third‑quarter sales rose to 75 billion Danish kroner, while third‑quarter operating profit fell to 23.7 billion kroner, a decline of about 30 percent from the prior year and slightly below consensus estimates. For the first nine months of 2025, operating profit was 95.9 billion kroner, up 5 percent year‑on‑year including restructuring charges; excluding onetime costs, management said profit would have grown substantially more.