0711 GMT - Novo Nordisk shares will probably come under some pressure today, falling between 2% and 4%, as it delivered a downgrade following after a weak quarter for Wegovy which was pressured by generic drugs, Jyske Bank senior analyst Henrik Hallengreen Laustsen writes. The downgrade probably overshadows the fact that total sales are in line with expectations and that earnings surprise positively, he adds. The fear in the market was that Novo would downgrade - the fear came true, he says. Novo Nordisk now expects revenue growth of 13%-21% and earnings growth of 16%-24%, with the market looking for 17.8% and 21.5%, respectively. Guidance is lowered due to competition from generic drugs and the decline in the U.S. dollar. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 03:11 ET (07:11 GMT)
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