According to Bloomberg, the reduction in bonuses will apply to employees who are eligible for short-term incentives in Denmark.
Drugmaker Novo Nordisk (NVO) will offer a reduced 2025 yearly bonus to its employees in Denmark due to the company’s lowered forecast, Bloomberg reported on Friday, citing a company spokesperson.
The reduction will apply to employees who are eligible for short-term incentives in Denmark, the report added. On Stocktwits, retail sentiment around Novo jumped from ‘neutral’ to ‘bullish’ territory over the past 24 hours, while message volume remained at ‘normal’ levels. Shares of the company traded 3% higher in the pre-market session at the time of writing.
A Stocktwits user said that they expect the stock to hit $80 by the end of the year.
Another user said that they expect a lot of shorting on Friday.
Earlier this week, it was reported that the drugmaker has implemented a hiring freeze, which will apply across all markets and departments, with an exemption for business-critical roles. Former CEO of Novo Nordisk, Lars Fruergaard Jørgensen, said earlier this month that the company is taking measures to sharpen its commercial execution further, and ensure efficiencies in cost base while continuing to invest in future growth. Novo’s new CEO, Maziar Mike Doustdar, took charge on August 7.
Last month, the company, battling competition from its U.S. rival Eli Lilly, lowered its full-year 2025 outlook, citing lower growth expectations for its blockbuster weight loss drug Wegovy and diabetes drug Ozempic for the second half of the year.
The firm now expects sales growth of 8% to 14% during the year at a constant exchange rate, down from its previous estimate of 13% to 21%. Operating profit growth is now expected to be 10% to 16%, down from its prior outlook of 16% to 24%.
NVO stock is down by 36% this year and by 59% over the past 12 months.
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