Record Operating Profit of Nearly DKK 39 Billion Sets the Tone for the Year

Novo Nordisk, the Danish biopharmaceutical giant, kicked off 2025 with stellar financial performance, showcasing continued momentum across its core therapeutic areas. With a strategic focus on GLP-1-based treatments for obesity and diabetes, the company continues to outperform expectations and extend its global leadership.

Revenue Reaches DKK 78 Billion – 18% Year-on-Year Growth

For the first quarter, Novo Nordisk reported revenue of DKK 78.1 billion, up 18% year-over-year. Operating profit rose by 20% to DKK 38.8 billion, reflecting the strength of its commercial execution and resilience in gross margin (83.5%) despite increased R&D investments.

Obesity Business Surges 65%, Led by Wegovy and Saxenda

Sales of anti-obesity medications jumped to DKK 18.4 billion, contributing 62% of total growth. The dramatic uptick underscores the soaring demand for Wegovy, now a market leader in both the U.S. and several international markets, with expanded access and strong payer coverage.

GLP-1 Diabetes Franchise Maintains Market Dominance

GLP-1-based diabetes treatments (Ozempic, Rybelsus) generated DKK 39.6 billion in revenue, up 11% from the previous year. Novo Nordisk now holds an estimated 62% global market share in the GLP-1 segment, extending its lead over key competitors.

International Growth Accelerates Across Asia, China, and LATAM

Geographically, International Operations grew 19%, while U.S. sales advanced 17%. China posted 22% growth, while the APAC region surged 25%, confirming Novo Nordisk’s global expansion strategy is yielding tangible returns across all regions.

Clinical Innovation Front and Center: CagriSema and Oral Sema Show Strong Potential

Novo Nordisk reported compelling results from its REDEFINE 2 trial for CagriSema, with patients experiencing 15.7% average weight loss. In parallel, the company submitted Oral Semaglutide (25 mg) to the U.S. FDA as the first-ever oral GLP-1 treatment for obesity, following 16.6% weight loss results in the OASIS 4 trial.

Rare Disease Portfolio Posts Modest 3% Growth with Strong Endocrine Sales

Revenue in rare diseases reached DKK 4.6 billion, up 3%. The endocrinology segment was the standout performer with 14% growth, driven by Norditropin and Sogroya. However, rare blood disorders declined slightly, affected by mixed regional dynamics.

Upbeat Outlook for 2025: Double-Digit Growth Trajectory Confirmed

Novo Nordisk projects full-year 2025 sales growth of 16% to 24% (CER), with operating profit expected to rise by 19% to 27%. Free cash flow is forecasted between DKK 75 and 85 billion, representing a new benchmark for the company’s capital generation capacity.

Bottom Line: Novo Nordisk Reinforces Market Leadership With Relentless Execution

Q1 2025 results underscore Novo Nordisk’s unmatched scale, innovation, and market reach. With industry-leading positions in GLP-1, a deep pipeline in obesity and cardiometabolic care, and increasing penetration in emerging markets, the company is strategically positioned for sustained value creation over the coming decade.