Novo Nordisk Warns Sales to Plummet 5%-13% Due to Intensified US Competition - NOV

[Para 1: The Lead] Novo Nordisk A/S (NOV) warns its sales will drop 5% to 13% this year due to heightened competition in the US and government efforts to reduce drug prices. This is a significant downturn, exceeding analysts' expectations of a 1.4% decline. [Para 2-3: Supporting details & Context] Sales at constant exchange rates are forecasted to fall. Analysts expected a milder decline. Novo Nordisk shares, including American Depositary Receipts (ADRs), fell about 12% post-halt, contrasting with a 13% year-to-date gain through Tuesday. The company faces stiff competition from Eli Lilly & Co.’s Zepbound and impending generic versions of Ozempic internationally. Novo is also impacted by US President Trump’s push for most favored nation pricing and the loss of exclusivity for semaglutide in certain countries. Despite the global GLP-1 market expanding, lower realized pricing and loss of exclusivity will hit revenues. Novo Nordisk initiates a new stock buyback program up to 15 billion Danish kroner ($2.4 billion).