Novo Nordisk faces mounting pressure as Wegovy market position weakens

Novo Nordisk is confronting intensifying challenges surrounding its blockbuster weight‑loss therapy Wegovy (semaglutide). The company has slashed its 2025 sales growth forecast to 8–14% from an earlier projection of 13–21%, triggering an estimated €60–70 billion drop in market value across stock markets. Rising competition from Eli Lilly’s Zepbound and Mounjaro, coupled with the widespread availability of unbranded compounded versions of Wegovy in the U.S., have significantly dented its market share.

Novo Nordisk has also ended its partnership with telehealth firm Hims & Hers following concerns over the sale of cheaper compounded semaglutide that undercut branded products. New CEO Maziar Mike Doustdar, a long‑time company insider and first non‑Danish leader, is expected to refocus commercial execution and enforce legal actions against compounders while streamlining costs.

Despite these headwinds, Wegovy expansion continues. Novo Nordisk has applied to the European Medicines Agency for approval of a higher 7.2 mg dosage, based on clinical trial data showing up to 21% weight loss. Global obesity drug competition is also escalating as numerous companies accelerate development of rival therapies.

The firm remains hopeful that proposed U.S. policy changes—which could allow Medicare and Medicaid coverage for weight‑loss drugs—might ease access barriers and support future demand.