Denmark's Economic Outlook Dims Amid Novo Nordisk Struggles

Denmark has revised its 2025 economic growth forecast from 3% down to 1.4%, according to government documents cited by Bloomberg News. The reduction is largely attributed to weaker-than-expected performance from pharmaceutical giant Novo Nordisk, which has been losing market share in the U.S.

The report indicates a marked decline in export growth, now predicted to rise by barely 0.9% compared to an earlier projection of 4.3% in May. This downturn is significantly influenced by Novo Nordisk's struggles against U.S. competitor Eli Lilly in the obesity drug market, particularly with its weight-loss treatment, Wegovy.

Economy Minister Stephanie Lose plans to present the revised economic outlook at a press conference in Copenhagen on Friday. Despite the challenges, the pharmaceutical sector remains crucial to Denmark's economy, though it may not see the same rapid growth as in recent years, Lose noted. Both Novo Nordisk and Denmark's Ministry of Economic Affairs have yet to comment on the reported figures.

(With inputs from agencies.)