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Nov 5, 2025 8:00 AM

Ozempic Maker Novo Nordisk Trims Growth Outlook For Obesity Drugs

Novo Nordisk A/S (NYSE:NVO) on Wednesday reported third-quarter 2025 sales of roughly $11.75 billion (74.98 billion Danish kroner), slightly below the consensus of $11.88 billion.

Sales increased by 5% in Danish kroner and 11% at constant currency. GLP-1 diabetes sales increased by 11% to 36.74 billion Danish kroner, and Obesity care sales increased by 18% to 21.11 billion Danish kroner.

Insulin sales increased by 1% to 11.99 billion Danish kroner, and Rare disease sales increased by 9% to 4.72 billion Danish kroner.

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Operating profit decreased by 30% to 23.68 billion Danish kroner and by 21% at constant exchange rate (CER), impacted by one-off restructuring costs of around 9 billion Danish kroner. Operating margin fell from 47.4% to 31.6%.

Had Novo Nordisk not incurred such restructuring costs, operating profit would have decreased by 2% in Danish kroner and increased by 7% at CER.

The weight loss drug maker reported earnings of $1.03 per share (4.50 Danish kroner), beating the consensus of 77 cents. Adjusted net profit increased by ...