Novo Nordisk on Wednesday reported a better-than-expected rise in net profit but lowered its full-year sales growth forecast.

Novo Nordisk A/S surged on expectations that some competition for its blockbuster obesity shot Wegovy will subside, paving the way for a sales rebound later this year.The stock rose as much as 6.9% in Copenhagen as investors looked past a trimmed financial forecast from the Danish drugmaker.

Drugmaker Novo Nordisk expects Wegovy weight-loss drug sales in the United States to start to recover once a ban on compound copycats is enforced this month, its CEO said on Wednesday after the company cut its 2025 forecasts.