Denmark Slashes Economic Growth Forecast as Novo Slumps (1)

Denmark is cutting its forecast for 2025 economic growth by more than half amid weaker prospects for pharmaceutical giant Novo Nordisk A/S.

Gross domestic product is expected to expand 1.4% this year, down from the government’s May estimate of 3%, the economy ministry said on Friday. The government cited US tariff increases and a weakened outlook for the pharmaceutical industry as drivers for the revision. Bloomberg News first reported the downgrade late Thursday.

The updated forecast comes as Denmark’s corporate giant Novo is facing intensifying competition and the rise of copycat versions of its drugs Wegovy and Ozempic in ...