Novo narrowed its full-year guidance for the fourth time this year, saying it now expects sales growth within the range of 8% to 11% at constant exchange rates, compared to a previous forecast of 8% to 14%. It also lowered its expectations for operating profit growth of 4% to 10% to a new forecast of 4% to 7%.

Novo Nordisk lowers its 2025 profit forecast as new CEO Mike Doustdar faces rising competition, leadership changes, and a tense takeover battle with Pfizer.

Pfizer and Novo Nordisk are in a heated legal and bidding war over Metsera, an obesity drug developer. Novo's $10 billion bid challenges Pfizer's prior deal with Metsera. Pfizer has sued to stop the process,