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- Novo Nordisk reports second quarter earnings missing Wall Street estimates on slower GLP-1 sales</p>
<p>Anjalee KhemlaniAugust 6, 2025 at 7:49 PM</p>
<p>Novo Nordisk (NVO) stock was down premarket after the company missed on top and bottom lines of second quarter earnings Wednesday. The report comes just a week after the company announced a downward revision in its 2025 guidance.</p>
<p>The company barely missed on revenue, reporting $11.95 billion, compared to $11.97 billion expected by Wall Street. It also reported earnings per share (EPS) of $5.96, compared to estimates of $6.06 per share. The GLP-1 maker of diabetes drug Ozempic and weight-loss drug Wegovy reported sales were up 16% year over year.</p>
<p>The two blockbuster drugs brought in revenue of $7.9 billion, or about two-thirds of the total reported in the quarter.</p>
<p>The company previously announced a reduction in sales growth, from 13%-21% to 8%-14% this year. It has been more acutely impacted by the ongoing sales of compounded weight-loss drugs, as its semaglutide ingredient has been widely . The company announced 14 new lawsuits Tuesday, adding to a total of 132 suits in 40 states, to shut down copycat practices.</p>
<p>Outgoing CEO Lars Jørgensen said compounding has been a key reason behind the company's muted growth, despite it having had the first-to-market advantage a few years ago.</p>
<p>On a call early Tuesday, he repeated the claim that more than 1 million patients were on copycat versions of the drug.</p>
<p>Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain, on March 8, 2024. REUTERS/Hollie Adams/File Photo (REUTERS / Reuters)</p>
<p>"We're talking about more than 1 million people using unauthorized ... semaglutide knockoffs, mainly produced in China, not quality controlled in any shape or form, or approved by the FDA," Jørgensen said.</p>
<p>But Novo also has a competition problem and a price threat problem as near-term headwinds.</p>
<p>Eli Lilly's (LLY) new patient prescriptions represent about 60% of the total market, despite Novo clinching a deal with CVS (CVS) to be the sole weight-loss drug on the formulary. In addition, Novo's drugs, including Ozempic, will be facing price negotiations next year for Medicare.</p>
<p>Most recently, an additional form of negative pressure arrived in a letter from President Trump. Novo was one of 17 companies that received a letter demanding that Novo Nordisk provide the lowest price it offers to developing countries to the Medicaid population.</p>
<p>Jørgensen said that Medicaid enrollees are already receiving some of the lowest prices — lower than in Europe.</p>
<p>He did not respond to the letter's demand that direct-to-consumer lower cash pricing be available to all patients but noted that Novo Nordisk's direct-to-consumer platform, NovoCare, has had 10% market penetration since launching in March.</p>
<p>Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, provider services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem.</p>
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