COPENHAGEN, Feb 4 — Danish pharmaceutical giant Novo Nordisk said yesterday that it expects 2026 sales to slide by up to 13 per cent as prices for its Ozempic and Wegovy anti-obesity drugs fall in the key US market.

Struggling in the face of growing competition, in particular from US rival Eli Lilly, Novo Nordisk also reported that its 2025 sales rose 6 per cent in 2025 to 309 billion kronor (RM191.9 billion), below the 8 to 11 per cent gain it had forecast in November.

The figure was still higher than the 307.6 billion kronor analyst consensus forecast calculated by Bloomberg.

Net profit edged 1 per cent higher to 102.4 billion kroner (US$16.2 billion).

Novo Nordisk said it expected this year’s sales to be between 5 and 13 per cent lower, at constant exchange rates, than for 2025.

Last year had already been tough for the company that had until recently been Europe’s most valuable stock.

Growth slowed, forcing it to lower profit forecasts for four quarters in a row. Novo Nordisk also cut 9,000 jobs, which it announced had cost eight billion euros (US$9.4 billion), and changed chief executive as it sought to turn around its fortunes.

“The sales outlook is impacted by lower realised prices, including impacts related to the ‘Most Favoured Nations’ agreement in the US and the patent expiry of the semaglutide molecule” in some markets, Novo Nordisk said. It also highlighted increased “competition”.

The company said that it expects the global market for GLP-1, as the hormone responsible for the weight loss is known, to continue to expand.

It said it would introduce new products such as the Wegovy pill and higher doses, “enabling Novo Nordisk to continue to increase patient reach and expand volumes”.

“In 2026, Novo Nordisk will face pricing headwinds in an increasingly competitive market. However, we are very encouraged by the promising early uptake from the US launch of Wegovy pill,” said chief executive officer Mike Doustar

Novo Nordisk received US regulatory approval for its first oral version of Wegovy in December and launched sales in January, and it noted most early prescriptions were being paid for by patients.

Novo Nordisk hopes to obtain a regulatory green light for its haemophilia treatment Mim8 and its next-generation obesity treatment CagriSema, its CEO said.

The group also announced the launch of a share buyback programme worth up to 15 billion kroner. — AFP