Investors are worried Novo Nordisk's competition with Eli Lilly is heating up and that the first-to-market GLP-1 leader is losing ground.

Drugmaker Novo Nordisk expects Wegovy weight-loss drug sales in the United States to start to recover once a ban on compound copycats is enforced this month, its CEO said on Wednesday after the company cut its 2025 forecasts.

Danish drugmaker Novo Nordisk has cut sales and profit forecasts due to lower-than-expected US take-up of its blockbuster GLP-1 obesity and diabetes drugs. Revenues for the maker of Ozempic and Wegovy rose 18 per cent and operating profits 20 per cent at constant exchange rates in the first quarter of this year,