Novo Nordisk Confident Amid Trump Tariff Threats, Soaring Sales

Novo Nordisk, Europe's largest company by market value and maker of the popular weight-loss drug Wegovy, is preparing for potential tariffs threatened by U.S. President Donald Trump. CEO Lars Fruergaard Jørgensen acknowledged the company is 'not immune' to the impact of these tariffs but expressed confidence in its ability to navigate the challenges thanks to strong fundamentals. The pharmaceutical giant reported a remarkable 26% increase in total sales for the fiscal year 2024, driven by a staggering 86% sales growth of Wegovy. Despite the positive earnings, Novo Nordisk anticipates a slowdown in growth for 2025, forecasting a rate between 16% and 24%. The ongoing trade tensions have raised concerns, and while Jørgensen reassures stakeholders of the company's resilience, the uncertainty surrounding tariffs remains a significant factor in their strategy. Additionally, Novo is focused on advancing its next-generation obesity treatments despite recent setbacks in clinical trials.