The logos of the Danish drug manufacturer Novo Nordisk, manufacturer of the blockbuster diabetes and weight loss treatments Ozempic and Wegovy can be seen outside the Theri building when the company presented the annual report at Novo Nordisk in Bagsvaerd, Denmark, on February 5, 2025.
Mads Claus Rasmussen | AFP | Getty pictures
Denmark reduced its annual growth forecast from 3% to 1.4% on Friday, which is largely due to weaker expectations of the pharmaceutical giants Novo Nordisk.
Denmark has recorded a strong annual growth in recent years, with the economy grown by 3.7% last year. largely increased by pharmaceutical exports.
The Danish pharmaceutical giant Novo Nordisk makes blockbuster -weight management medication Ozempisch and Wegovy.
The Ministry of Economic Affairs found that US exports in Denmark in early 2025 after an enormous increase in the end of 2024 due to the construction of the existing and increased competition on the weight loss drug market, in which Novo lost the market share, decreased considerably.
Generic medication also presses sales opportunities in the USA, it said.
Europeās pharmaceutical sector was shaken this year by the Threat from Heavenly high US tariffsAlthough some certainty has now been made available EU.
The Danish Ministry of Economic Affairs said that the US tariffs had also burdened its growth forecast.
āThe growth in the first quarter of 2025 was also weaker than previously expected. Together with the American collective bargaining and the expectations adapted to the pharmaceutical industry, this has led to a significant downward adjustment of the estimate for GDP growth in 2025,ā says Google Translate.
However, the ministry emphasized that despite the lower growth forecast, its economy is strong overall and that high employment and inflation is below 2% annually.
In the meantime, its growth forecast for 2026 was revised to 2.1% of 1.4%, which expected expectations for higher private and public consumption.
This is a main news story and will be updated shortly.
