Novo Nordisk warns of first annual sales decline since Ozempic

Novo Nordisk said it expects sales to fall between 5 and 13 percent this year, a decline that would be its first annual sales drop since 2017, the year before it began selling Ozempic. The company reported revenue of 309 billion Danish kroner last year, about $49 billion, a 10 percent increase from the prior year excluding currency movements and the slowest pace since 2020.

The drugmaker has begun selling a pill version of Wegovy and said 170,000 people have tried it since sales began in early January. Under an agreement with the White House a starter dose costs $149, and the company said the pill is selling 15 times faster in its first month than the weekly injectable did at launch, with the chief executive saying lower prices should expand access.

Novo has also gone through a management shake-up after issuing profit warnings and announcing thousands of job cuts; the company said the head of U.S. operations, David Moore, was leaving.

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