- Operating profit increased by 5% in DKK and 10% at CER, impacted by DKK 9 billion restructuring costs.
- Sales in US Operations rose 12% in DKK and 15% at CER, with International Operations up 13% in DKK and 16% at CER.
- Novo Nordisk acquired Akero Therapeutics and initiated phase 3 development of cagrilintide for weight management.
- Full-year 2025 sales growth expected at 8-11% at CER, with operating profit growth at 4-7% at CER.
Financial Performance
Novo Nordisk reported a 12% increase in sales in Danish kroner and 15% at constant exchange rates (CER) for the first nine months of 2025. Operating profit rose by 5% in Danish kroner and 10% at CER, reaching DKK 95.9 billion. This was impacted by DKK 9 billion in restructuring costs aimed at streamlining operations for future growth.
Regional Sales Growth
Sales in US Operations increased by 12% in Danish kroner and 15% at CER, benefiting from gross-to-net sales adjustments. International Operations saw a 13% rise in Danish kroner and 16% at CER.
Product and R&D Developments
Sales in Diabetes and Obesity care grew by 12% in Danish kroner, driven by a 37% increase in Obesity care and a 7% rise in GLP-1 diabetes sales. Novo Nordisk announced FDA approval for Wegovy® for MASH treatment and plans to acquire Akero Therapeutics. The company also submitted Mim8 for regulatory approval in the EU and US, and initiated phase 3 development of cagrilintide for weight management.
Outlook and Strategic Moves
For the full year 2025, sales growth is projected at 8-11% at CER, with operating profit growth expected at 4-7% at CER, including a DKK 8 billion impact from restructuring. The guidance reflects lowered growth expectations for GLP-1 treatments. An extraordinary general meeting is scheduled for 14 November 2025 to elect new Board members.
