Novo Nordisk on Tuesday said it expects sales and profits to decline this year, as the maker of Wegovy faces growing competition in the obesity market.
The Danish pharma giant said it expects sales to decrease in the range of 5% to 13% in 2026, more than the 3% decrease forecasted by analysts surveyed by Visible Alpha. Novo also expects operating profits to decrease in the range of 5% to 13%, while analysts predicted a 5% decrease.
Shares of Novo plummeted more than 14% as of midday Tuesday. The Danish pharma giant was scheduled to report earnings on Wednesday, but released these results early.Continue to STAT+ to read the full story…