Novo Nordisk shares dropped as much as 17% Tuesday after the obesity drugmaker cut its full-year sales and profit outlook for the second time in 2025, according to Reuters. The company cited slowing demand for Wegovy and Ozempic in the U.S. and weaker-than-expected penetration in international markets. The Danish company now projects 2025 sales growth of 8% to 14%, down from 13% to 21%, and trimmed its operating profit growth forecast to 10% to 16%. Novo became Europe’s most valuable listed company in 2024 but has since lost over half its value. CEO Lars Fruergaard Jorgensen was ousted in May but remains until a successor is named. Full second-quarter earnings are due August 6.
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