Weaker potential customers for pharmaceutical giant Novo Nordisk A/S NVS have actually triggered Denmark’s financial ministry to cut its 2025 GDP projection, now anticipating simply 1.4% development, down 1.5 portion points from May’s forecast.
Development is seen rebounding to 2.1% in 2026, up 0.7 points. Work is still increasing and inflation is forecasted to remain listed below 2%. The ministry stated U.S. tariff walkings will even more weigh on exports and international activity, while an EU-U.S. trade structure lowers unpredictability around sales terms.
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Denmark’s development outlook is being formed by customer strength, exports, and Novo Nordisk’s trajectory. Increasing family need, increased by wage gains, tax cuts, and high work, is supporting personal usage.
Reuters kept in mind Denmark’s strong 2024 development was amongst Europe’s greatest, with Novo Nordisk alone contributing one-fifth of work gains. However headwinds are installing.
U.S. tariffs, for instance, dragged exports greatly lower in early 2025, cutting projection development to 0.9% from 4.3% in Might.
On The Other Hand, Novo Nordisk– maker of Wegovy and Ozempic– revealed a worldwide hiring freeze and reduced its 2025 sales projection to 8– 14% development, below 13– 21%, mentioning slower uptake of top quality GLP-1 drugs and increasing competitors from Eli Lilly and intensified options.
Still, Denmark’s economy ministry raised its 2026 GDP outlook to 2.1%, indicating more powerful personal and public costs.
Rate Action: NVO stock is up 0.04% at $56.14 at the last examine Friday.
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