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COPENHAGEN (Reuters) -Wegovy-maker Novo Nordisk trimmed its full-year profit and sales forecasts on Wednesday as sales growth slows, but investors cheered a better-than-expected Medicare pricing deal that helped lift the shares after an initial slide.
Novo Nordisk once dominated the weight-loss drug market with Wegovy. However, rising competition, particularly from Eli Lilly, has significantly impacted its market position, leading to substantial financial losses.
Novo Nordisk lowers its 2025 profit forecast as new CEO Mike Doustdar faces rising competition, leadership changes, and a tense takeover battle with Pfizer.