Novo Cuts Outlook Again, Highlighting Obesity Struggles

Novo Nordisk A/S trimmed its forecast for a fourth time this year on lagging sales of its blockbuster drugs Wegovy and Ozempic, underscoring the urgency facing its new chief executive.

Revenue will rise only as much as 11% this year while operating profit expands by 7% at most based on constant exchange rates, the Danish drugmaker said Wednesday. The trim comes as the company reported disappointing earnings for the third quarter.