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Mar 31
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Novo Nordisk Q1 2025 Earnings Report

Novo Nordisk reported strong Q1 2025 results with double-digit growth in both sales and profit driven by obesity and diabetes treatments.

Key Takeaways

Novo Nordisk delivered a robust Q1 2025, with sales growing 19% and net profit rising 28%, fueled by continued demand for GLP-1 therapies and expanding market presence in obesity care.

Sales increased 19% driven by strong performance in diabetes and obesity care.

Operating profit rose 22% supported by increased product demand and efficiency.

North America led regional growth with a 36% increase in reported sales.

Wegovy® and Ozempic® continued to be key growth drivers for obesity and diabetes.

Total Revenue
DKK 78.1B
Previous year: DKK 66.4B
+17.7%
EPS
DKK 6.55
Previous year: DKK 5.79
+13.3%
Sales Growth
19%
Previous year: 25%
-24.0%
Op. Profit Growth
22%
Previous year: 28%
-21.4%
Net Profit Growth
28%
Previous year: 39%
-28.2%
Cash and Equivalents
DKK 21.9B
Free Cash Flow
DKK 23.2B

Novo Nordisk

Novo Nordisk

Novo Nordisk Revenue by Segment

Novo Nordisk Revenue by Geographic Location

Forward Guidance

Novo Nordisk raised its full-year 2025 guidance, anticipating strong demand for GLP-1 treatments and continued international expansion.

Positive Outlook

  • Sales growth outlook increased to 19–27% from previous 18–26%
  • Operating profit growth guidance lifted to 22–30%
  • Strong global uptake of GLP-1 therapies supports outlook
  • Positive trends in obesity care with Wegovy® launch in new markets
  • Solid supply chain and production scalability improvements

Challenges Ahead

  • Currency headwinds expected to impact reported growth figures
  • Increased R&D spending may weigh on margins
  • Competitive pressures intensifying in GLP-1 market
  • Regulatory uncertainties remain in international markets
  • Potential reimbursement challenges in new therapeutic areas