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Denmark on Friday slashed its annual growth forecast to 1.4% from 3%, in large part due to weaker expectations for pharmaceutical giant Novo Nordisk.
Denmark has recorded strong annual growth in recent years, with its economy expanding 3.7% last year after getting a major boost from pharmaceutical exports.
Danish pharma giant Novo Nordisk makes blockbuster weight management drugs Ozempic and Wegovy.
The economy ministry noted that Denmark’s U.S. exports fell significantly in early 2025 after a huge spike in late 2024, due to both inventory build-up and increased competition in the weight loss drug market, which has seen Novo lose market share.
