New CEO, Mike Doustdar, who replaced Lars Fruergaard Jørgnsen, released in May, announced that the company is expecting now sales increase in the 8-14 percent rangewhile previous estimates spoke about 13-21 percent On the other hand Operational profit is to increase Fr. 10-16 percentand not – as previously assumed – Fr. 16-24 percent, as Puls Biznesu writes.
The quotations of the shares began to break down before 14:00 – they fell from the level 385.95 DKK until 335.05 DKKwhich means over 25 % drop in value.
Wegova fails, the competition is growing
The main reason for lowering the forecasts is weaker than expected demand for Wegova and Ozmpic On the American market and lower than the market share outside North America was assumed. The company also pointed to the problem of growing competition and the return of illegal substitutes.
“Market research conducted by Novo Nordisk shows that the dangerous and illegal mass production of complex drugs is ongoing, and many entities still introduce to the market and sell GLP-1 drugs” – we read in a message cited by” Puls Biznesu “.
The temporary admission of the imitation of original drugs in the US took place when Wegova was unavailable. However, the ban was restored May 22.
“Dead actions” and loss of trust
Although the financial results for the second quarter – which are to be officially announced August 6 – they show 18 % increase in revenues and 40 % increase in operating profitthe market does not forgive disappointing forecasts. Profit per share increased to 5.96 DKKi.e. 33 percent year to year, as Puls Biznesu writes.
– I'm shocked. Not only the American market is under pressure. It seems that Novo is under pressure on almost all markets. I'm starting to understand why Lars Fruergaard was thrown out – comments investor Peter Bækgaard, a former stock broker and head of investor relations Novo Nordisk in the USA in the 1990s.
Experts also warn against the oncoming wave of generics, which can threaten the sale of Wegova as early as 2026.
– This means that the actions can be dead for a very long time. Currently, there is no trust in the company, and all investors are extremely skeptical – adds Bækgaard.
The situation is summarized by the Investment Strategist with Arthascope, Lars Hytting, quoted by “Puls Biznesu”:
– This is a significant, wide correction of forecasts. What was the worst scenario before has now become the best. That is why the actions react so violently.
