Novo’s challenges from both a pharmaceutical giant in Lilly and the low-cost competition from compounded drugs sellers led to its leadership change. Novo Nordisk announced in May that Lars Fruergaard Jorgensen, CEO since 2017, was departing ahead of schedule.

Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13-21% range. It also lowered its operating profit growth forecast to 10%-16%, from a prior outlook of 16-24%. (Reporting by Stine Jacobsen, editing by Terje Solsvik and Essi Lehto)