Novo Nordisk CFO Karsten Munk Knudsen speaks on call

Novo Nordisk CFO Karsten Munk Knudsen speaks on call

Novo Nordisk's Chief Financial Officer, Karsten Munk Knudsen, recently participated in a call to address investor concerns following the company's recent stock plunge and strategic adjustments. The call comes amidst a challenging market environment for the Danish pharmaceutical giant, which has faced increased competition in the weight-loss drug sector.

On July 2, 2025, Knudsen discussed the company's reduced financial forecasts and the appointment of Maziar Mike Doustdar as the new CEO. He emphasized that the adjustments were necessary to reflect the current competitive landscape and market pressures. According to Knudsen, the company expects full-year sales growth to be between 8% and 14%, a significant reduction from the previously projected 13% to 21% [2].

The CFO also highlighted the impact of competition on the company's key products, including the weight-loss drug Wegovy and the diabetes treatment Ozempic. He noted that the company's sales outlook for these products has been negatively affected by the use of compounded GLP-1s and slower-than-expected market expansion, as well as competition from rivals like Eli Lilly & Co. [2].

Knudsen acknowledged the market's reaction to these developments, stating that the company's stock price has fallen by more than 50% over the past year due to increasing competition and market challenges. However, he expressed confidence in Novo Nordisk's ability to navigate these challenges and maintain its position in the market.

In addition to the financial outlook, Knudsen discussed the appointment of Maziar Mike Doustdar as the new CEO. He praised Doustdar's track record of driving growth and his ability to lead the company through its current challenges. Doustdar will take over from Lars Fruergaard Jørgensen, who has led the company for 34 years [3].

The call highlighted Novo Nordisk's ongoing efforts to address market challenges and maintain its competitive stance. The company is focusing on innovation in its core pharmaceutical segments and strategic executive leadership to navigate the complexities of the current market environment.

References:
[1] https://www.ainvest.com/news/nvo-stock-plummets-20-novo-nordisk-lowers-guidance-rising-weight-loss-drug-competition-2507/
[2] https://finance.yahoo.com/news/novo-nordisk-stock-crashes-after-company-cuts-sales-profit-outlook-on-weight-loss-drug-competition-123846938.html
[3] https://www.stocktitan.net/sec-filings/NVO/6-k-novo-nordisk-a-s-current-report-foreign-issuer-5d1a2c30f480.html