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NOVO.B-DK

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Denmark on Friday slashed its annual growth forecast to 1.4% from 3%, in large part due to weaker expectations for pharmaceutical giant Novo Nordisk .

Denmark has recorded strong annual growth in recent years, with its economy expanding 3.7% last year after getting a major boost from pharmaceutical exports .

Danish pharma giant Novo Nordisk makes blockbuster weight management drugs Ozempic and Wegovy.

The economy ministry noted that Denmark's U.S. exports fell significantly in early 2025 after a huge spike in late 2024, due to both inventory build-up and increased competition in the weight loss drug market, which has seen Novo lose market share. Generic medicines are also squeezing its sales opportunities

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