Wegovy and Ozempic maker forecasts sharp drop in revenue for 2026
The maker of Wegovy and Ozempic, Novo Nordisk, has predicted a sharp drop in revenues this year owing to what its boss described as a “painful” push by Donald Trump to lower US weight-loss drug prices, rising competition, and the loss of important patent protections,Denmark’s Novo, once the poster-child for the growth in weight-loss treatments, said sales this year were likely to fall between 5% and 13%, ending years of double-digit gains, despite the promising launch of its new Wegovy pill in the US,Its share price plummeted 17% on Wednesday, erasing all gains so far this year,In the past year the stock has lost nearly 50% of its value,Last year, Novo’s total sales grew by 10% to 309bn Danish kroner (£36.
6bn) “despite being a challenging year for the company”, according to Mike Doustdar, the chief executive.Profit before tax rose by 3% to 130.5bn kroner.Doustdar said: “Our 2026 guidance reflects a year of unprecedented pricing pressure,” adding he hoped the “painful” impact would be an “investment for our future”.He hoped to sell higher volumes of obesity and diabetes drugs over the coming years, saying: “We are seeing a volume response to lower prices.
”He pointed to Novo’s agreement with the Trump administration to heavily cut prices, from more than $1,000 a month (£730) to an average price of $350 (£255), and the patent expiry of semaglutide, the main ingredient of its obesity and diabetes drugs, in several countries including India,That would allow generic drugmakers to make cheaper versions of Novo’s drugs,It has also been hit by cheaper compounded versions of its jabs made up by pharmacies, used by many Americans,Novo will, however, keep patent protection for semaglutide in Europe and Japan until 2033, and in the US until 2032,Doustdar succeeded Lars Fruergaard Jørgensen in August after Novo lost ground to its US rival Eli Lilly, prompting several profit downgrades and 9,000 job cuts.
Lilly’s Mounjaro jab leads to greater weight loss, clinical studies have shown.Novo’s outlook contrasts with that of Lilly, which last year became the first pharmaceutical company worldwide to hit a $1tn valuation.On Wednesday, it forecast stronger-than-expected sales and profit growth this year.Shrugging off price cuts in the US, it estimates 2026 sales at $80bn to $83bn, compared with $65bn last year, up by 45%.Lilly shares rose by 8.
2% in pre-market trading.The daily Wegovy pill, an oral version of Novo’s popular injection that users self-administer once a week, reached 50,000 US prescriptions a week by late January, after launching earlier that month.The Novo finance chief, Karsten Knudsen, talked of a “fantastic update” of the Wegovy pill, which is priced at between $149 and $299 a month for cash payers, depending on the dose.Amazon’s pharmacy arm is selling the pill at $25 to people with insurance, and at $149 to cash-paying customers.It is the first GLP-1 tablet on the market, with Lilly expected to launch its own pill in the spring, subject to regulatory approval.
Lilly plans to limit higher doses of its pill to $399 a month for repeat cash buyers,The medications work by mimicking the gut hormone GLP-1, making patients feel fuller and limiting appetite,Derren Nathan, the head of equity research at Hargreaves Lansdown, said: “Donald Trump’s crusade on drug prices, patent expiration, and competition all had their part to play,It wasn’t all bad news, with an extremely strong launch for the Wegovy pill, and a reminder of strong clinical progress in the next-generation pipeline at the tail-end of 2025,”In London, Britain’s second-biggest drugmaker, GSK, said sales growth would slow to between 3% and 5% this year, from 7% growth to £32.
7bn last year.In 2025, it initially had the same sales forecast as for this year, but upgraded it twice.The forecast factors in the company’s deal with the Trump administration to lower the cost of prescription medicines, in return for a tariff-free period of three years.The company’s new chief executive, Luke Miels, who took over from Emma Walmsley at the start of the year, reiterated its £40bn-plus sales target by 2031.He said GSK would show “scientific courage” and “be more agile”, saying: “We need our labs to produce more competitive products.
” It emerged this week that it is cutting about 350 jobs in the UK and US, including 50 at its main research hub in Stevenage.GSK reported strong growth in speciality medicines, respiratory, immunology and inflammation treatments, cancer and HIV drugs last year.Oncology led the way with a 43% jump to £2bn.Vaccine sales increased by 2% to £9.2bn, including its shingles, meningitis and RSV jabs.
GSK’s share price dipped initially by 0,6% as trading began in London, before rising, up 2%, to the highest since July 2001 after the merger of Glaxo Wellcome and SmithKline Beecham,Sean Conroy, a healthcare analyst at Shore Capital, said GSK was “setting a low bar” with its forecasts, and he believed “this guidance should be beatable”,
From Dorset to the world: wave of donations helps to secure Cerne giant’s home
It feels like a very British monument: a huge chalk figure carved into a steep Dorset hillside that for centuries has intrigued lovers of English folklore and legend. But an appeal to raise money to help protect the Cerne giant – and the wildlife that shares the landscape it towers over – has shown that its allure stretches far beyond the UK.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link. Learn more
‘We put a stink bomb in Stephen Fry’s shoe’: Vic and Bob on the inspired idiocy of Shooting Stars
‘Christians complained about the stuffed buzzard wearing a crucifix round its neck. Birds can’t be Christians, they said. It’s the most complaints we ever got’The first time I saw what was to become Shooting Stars was Vic Reeves – AKA Jim Moir – doing The Big Quiz during Vic Reeves Big Night Out live. I’d never seen anything like it. It was full of meaningless questions and had an attitude
Sydney Biennale 2026: Hoor Al Qasimi unveils expansive program for 25th edition
The Biennale of Sydney has revealed the final lineup details for its 25th edition, scheduled to open mid-March across five key venues, including White Bay Power Station, the Art Gallery of New South Wales and Penrith Regional Gallery.Featuring 83 artists, collaborations and collectives from 37 countries including Australia, the 25th Biennale of Sydney is titled “Rememory” – after the term coined by author Toni Morrison – and will “[explore] the intersection of memory and history as a means of revisiting, reconstructing, and reclaiming histories”.It represents the vision of artistic director Hoor Al Qasimi, the first Arab appointed to the role and the eighth woman in the festival’s 53-year history.Highlights announced on Tuesday include a giant functioning clay oven at White Bay Power Station in Rozelle, created by Argentinian sculptor Gabriel Chaile, which will be activated for the Biennale’s opening weekend and at key moments through the festival to serve visitors Peruvian cuisine. Also for food lovers is a large vat of tabbouleh, created by Lebanese artist Mounira Al Solh as part of a community-based performance in Granville
Meryl Streep is as withering as ever in first full-length trailer for Devil Wears Prada 2
The first full-length trailer for The Devil Wears Prada 2 has been released, and given more details on David Frankel’s hotly anticipated follow-up. In the promo, Meryl Streep’s Miranda Priestly and her right-hand man Nigel, played by Stanley Tucci, are seen reuniting with Anne Hathaway’s Andy and, later, Emily Blunt’s Emily.Priestly remembers neither, nor even her habit of referring to all her fashion magazine assistants as Emily – presumably on account of her withering alpha-editor status rather than, say, dementia.The film’s teaser trailer, which was released in November, was reportedly the most-viewed comedy trailer in 15 years, with 181.5m views on YouTube in its first 24 hours
Letter: Mark Fisher obituary
In his fat 2004 volume Britain’s Best Museums and Galleries, the former arts minister Mark Fisher displayed great enthusiasm and knowledge, dating from museum visits with his father when he was very young. I greatly enjoyed working with him when he was a well-informed commissioner and I was deputy director of the Museums & Galleries Commission.We shared common ground in that I grew up in Stoke-on-Trent, Staffordshire, where he was an MP for from 1983 to 2010. Members of my family have been involved in heritage projects for many years, from museums and historic houses to oatcakes and bottle ovens, and with their advice he was able to intervene quietly and helpfully from time to time in such matters in the city.
Wil Anderson: ‘I honestly believe being mistaken for Adam Hills is one of the great gifts of my life’
Do you have a nemesis?I know Adam Hills did one of these and he chose me as his nemesis because we often get confused. He said it in a nice way – but I wouldn’t say Adam, because I honestly believe being mistaken for Adam Hills is one of the great gifts of my life. Even at the peaks of my career going well, it was always quite a good reminder that people never care as much about anything that you care about. Sometimes you’d have moments where you think: “Everyone thinks this or that about me” – and then someone would say, “Hey, I love you Adam!” Adam’s a very well-known comedian, I’m a very well-known comedian and yet, half the time when somebody comes up to say g’day to us, they don’t even know who it is. There’s something really nice and humbling in that
PM says he knew when giving Mandelson US job he had kept ties with Epstein after conviction
Starmer orders release of files relating to Mandelson US ambassador decision
A whiff of familiarity in Mandelson’s 2009 collusion with the banks
Tories seek disclosure of vetting process for Mandelson’s ambassador role
Met police launch investigation into alleged Mandelson-Epstein email leaks – as it happened
What does the criminal investigation mean for Peter Mandelson?