Novo Nordisk revised its 2025 sales growth projection downward to 8%-14%, from an earlier 13%-21% estimate, citing increasing competition from compounded versions of its obesity drug Wegovy and challenges in maintaining market share. The company's operating profit outlook was also lowered. Shares dropped over 20%, erasing substantial market cap. Concurrently, Novo appointed Maziar Mike Doustdar as CEO effective August 7, succeeding Lars Fruergaard Jørgensen. The company reorganized its R&D to merge two units, led by Martin Holst Lange as chief scientist. Despite challenges, Novo remains dominant in the GLP-1 market with ongoing Phase III studies in neurodegenerative disease indications.