🔹 Revenue: $11.93B (Est. $11.97B) 🔴; +13% YoY (lowest in 4 years)
🔹 EPS: $0.92 (Est. $0.94) 🔴
🔹 Wegovy Sales: DKK 19.5B (Est. DKK 19.2B) 🟢; +67% YoY
🔹 GLP-1 Sales: DKK 38.4B (Est. DKK 39.5B) 🔴
🔹 Ozempic Sales: DKK 31.8B (vs. 28.9B YoY)
FY25 Outlook (Lowered) [Not a surprise, as mgmt. updated it last week]
🔹 Revenue Growth: 8%–14% (prior higher)
🔹 Operating Profit Growth: 10%–16%
🔹 Sales growth expected to lag in H2 due to copycats, slower market expansion, and stronger competition (esp. Eli Lilly's Zepbound)
Strategic Updates
🔸 CEO Lars Fruergaard Jørgensen to be replaced by Mike Doustdar (effective Aug 7)
🔸 GLP-1 market share declining in US, impacted by compounded copycats & Zepbound
🔸 $3B one-time US rebate helped partially offset topline softness
🔸 R&D advancing oral and subcutaneous amycretin to Phase 3
🔸 Higher-dose Wegovy (7.2mg) submitted to EU regulators
🔸 Consolidation of global R&D leadership; executive reshuffling announced
CEO Commentary (Lars Fruergaard Jørgensen – Outgoing)
🔸 “While delivering 18% sales growth in H1, we are lowering full-year outlook due to slower-than-expected GLP-1 growth.”
🔸 “We’re sharpening execution and cost efficiency while continuing to invest in the pipeline.”
