Denmark slashes 2025 growth forecast amid Novo Nordisk slowdown
On February 5, 2025, Bagsvaerd presented an annual report in Novo Nordisk in Denmark, while box -office records breaking diabetes and weight loss treatments Ozempic and Wegovy are the producer of Danish drug producer Novo Nordisk, Ozempic and Wegovy.
Mads Claus Rasmussen | AFP | Getty Images
On Friday, Denmark largely reduced annual growth forecast from 3% to 3% due to weaker expectations for the Pharmaceutical Giant Novo Nordisk.
Denmark has achieved strong annual growth in recent years, its economy has expanded by 3.7% last year and largely increased with pharmaceutical exports.
Danish Pharma giant Novo Nordisk is doing Ozempic and Wegovy the weights management drugs that break box office records.
The Ministry of Economy said that Denmark’s US exports decreased significantly in the beginning of 2025 after a major increase in 2024, and that both the inventory accumulation and the loss of Novo lost its market share significantly due to increasing competition in the drug market.
He said that generic drugs also bored sales opportunities in the USA.
The pharmaceutical sector of Europe was shaken by the threat of high-sky tariffs this year, but now some certainty has been achieved by the EU-US Trade Agreement.
The Danish economy said that US tariffs also focus on growth forecast.
“Growth was weaker than expected in the first quarter of 2025, according to the Google translation. With the expectations of the American tariff increases and the expectations for the pharmaceutical industry, the GDP growth in 2025 caused significant adjustment.”
However, despite the lower growth forecast, the Ministry stressed that its economy is generally strong and that high employment and inflation are expected to be below 2% annually.
Meanwhile, it increased 2026 higher growth forecast from 1.4% to 2.1% on higher private and public consumption expectations.
This is a last -minute news story and will be updated soon.
