In a compelling report released today, Novo Nordisk A/S (Bagsværd, Denmark) announced robust performance for the first nine months of 2025 along with noteworthy pipeline developments that reflect the company’s ambition to redefine the treatment of chronic and rare diseases.
Sales climbed 12% in Danish kroner and 15% at constant exchange rates (CER) to DKK 229.9 billion, driven by strong momentum in both U.S. and international markets. Operating profit rose 5% (10% at CER) to DKK 95.9 billion, despite one-time restructuring costs of approximately DKK 9 billion related to the company-wide transformation programme.
Within its core Diabetes & Obesity care unit, Novo Nordisk reported sales of DKK 215.7 billion, up 12% in local currency (15% at CER). Notably, obesity-care sales surged 37% in Danish kroner (41% at CER) to nearly DKK 60 billion, while GLP-1 diabetes treatments grew by 7% in local currency (10% at CER). Rare-disease sales also posted strong gains, increasing 10% (13% at CER).
Major Pipeline and Strategic Milestones
Several major research and development achievements were announced:
• U.S. approval of Wegovy for treating MASH (metabolic dysfunction-associated steatohepatitis).
• An agreement to acquire Akero Therapeutics, Inc., adding a promising Phase 3 FGF21 analogue for MASH.
• Regulatory submissions for Mim8 in both the EU and U.S., advancing treatment options within the rare-disease portfolio.
• Launch of a Phase 3 trial for Cagrilintide, a potential first-in-class amylin-based monotherapy for weight management.
Chief Executive Officer Mike Doustdar said the transformation initiative is already delivering efficiencies while strengthening the company’s ability to offer broader treatment options. “We delivered solid growth across our business while investing in a future pipeline that has the potential to redefine chronic-disease treatment. Our guidance has been adjusted to reflect the transformation costs and evolving market dynamics for GLP-1 therapies,” he noted.
For full-year 2025, the company now expects :
• Sales growth of 8–11% at CER
• Operating profit growth of 4–7% at CER: These forecasts take into account an estimated DKK 8 billion in one-off transformation expenses. Reported growth in Danish kroner is projected to be 4–6 percentage points lower than CER figures.
This performance underscores the company’s leadership in obesity and metabolic care, while its expansion into adjacent areas like MASH and rare diseases demonstrates a commitment to long-term innovation. Although competition in the GLP-1 segment is intensifying, the results reflect strong fundamentals and a clear strategic vision for sustainable growth.
With multiple late-stage programs progressing and key regulatory filings underway, the focus now shifts to executing large-scale production and maintaining momentum across markets. The combination of strong financials, a broadening pipeline, and operational transformation positions the company well for the next phase of its growth journey.
