Novo Nordisk, the Danish pharmaceutical company known for its weight-loss drug Wegovy, cut its full-year sales and profit guidance for 2025, citing weaker-than-expected demand in the U.S. market. The company lowered its sales growth outlook to 8%–14% from the previous 13%–21%, and EBIT growth expectations to 10%–16%. This revision was attributed to increased competition from compounded weight-loss drugs and lower penetration of Wegovy in select international markets, as well as reduced growth expectations for Ozempic in the U.S. GLP-1 diabetes market. Following the announcement, Novo Nordisk's shares plunged over 25% in trading, wiping out approximately $70 billion to $93 billion in market value. The company's primary listing in Denmark fell more than 28% intraday. In response to these challenges, Novo Nordisk appointed Maziar Mike Doustdar, previously EVP of International Operations, as its new president and CEO effective August 7, 2025. Martin Holst Lange will succeed Marcus Schindler as Chief Scientific Officer as part of a leadership transition. The company also announced the consolidation of its research and development units into a single R&D division. The share price decline continued amid broader pressure on European pharmaceutical stocks following U.S. President Donald Trump's renewed calls for drug price reductions in the American market. Novo Nordisk's stock has fallen 37% year-to-date, reflecting investor concerns over its ability to maintain dominance in the obesity drug market amid rising competition.