Novo Nordisk lost as much as 30% of its market value on Tuesday after warning that 2025 revenue will grow only 8 %-14 %, down from a prior 13 %-21 % forecast. Investors erased roughly $70 billion from the Danish drugmaker’s capitalization, sending the shares to their worst one-day drop in decades and extending declines on Wednesday. Management blamed weaker-than-expected U.S. demand for its blockbuster obesity drug Wegovy and diabetes therapy Ozempic, as well as the rise of “compounded” copycat versions that continue to skirt a recent Food and Drug Administration crackdown. Analysts said the revision underscored intensifying competition from Eli Lilly, whose Mounjaro and Zepbound injections have overtaken Wegovy in weekly U.S. prescriptions. Alongside the profit warning, the board promoted 32-year company veteran Maziar Mike Doustdar to president and chief executive officer, effective 7 August, succeeding Lars Fruergaard Jorgensen. Doustdar, currently head of international operations, will be tasked with rebuilding U.S. momentum and reassuring shareholders after Barclays and other brokers downgraded the stock in the wake of the guidance cut.