Latest news with #Copenhagen
Reuters
10 hours ago
- Business
- Reuters
Obesity drugmaker Novo Nordisk plunges as it cuts forecasts again
COPENHAGEN, July 29 (Reuters) - Obesity drugmaker Novo Nordisk ( opens new tab on Tuesday cut its full-year sales and operating profit forecasts for the second time this year, sending its shares down as much as 17%. The maker of weight-loss drug Wegovy is struggling to convince investors it can remain competitive in the obesity drug boom against U.S. rival Eli Lilly (LLY.N), opens new tab. Novo shares have fallen sharply over the past year. "The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025," the company said in a statement. "This is related to lower growth expectations for Wegovy in the U.S. obesity market, lower growth expectations for Ozempic in the U.S. GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy in select IO (International Operations) markets," it said. Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13%-21% forecast range. It also lowered its operating profit growth estimate to 10%-16%, from 16-24% previously. Sales rose 18% year-on-year in both the second quarter and the first half of the year, Novo said. Its operating profit increased by 40% in the April-June quarter and by 29% in the first half, the company added. Booming sales of Wegovy catapulted Novo to become Europe's most valuable listed company in 2024, peaking at about 615 billion euros, but the value has since fallen by more than half. CEO Lars Fruergaard Jorgensen was ousted in May by Novo and its controlling shareholder, the Novo Nordisk Foundation, but will remain in his position until a successor is appointed. The company is scheduled to release full second-quarter earnings on August 6.
Yahoo
10 hours ago
- Business
- Yahoo
Obesity drugmaker Novo Nordisk cuts 2025 sales growth, operating profit outlook
COPENHAGEN (Reuters) -Obesity drugmaker Novo Nordisk (NVO) warned on Tuesday that full-year sales and operating profit would grow less than previously expected, marking its second forecast cut of 2025. Novo stock fell 13% before the bell on Tuesday. The maker of weight-loss drug Wegovy is struggling to convince investors it can remain competitive in the obesity drug boom against U.S. rival Eli Lilly (LLY). Novo shares have fallen sharply over the past year. "The lowered sales outlook for 2025 is driven by lower growth expectations for the second half of 2025," the company said in a statement. "This is related to lower growth expectations for Wegovy in the U.S. obesity market, lower growth expectations for Ozempic in the U.S. GLP-1 diabetes market, as well as lower-than-expected penetration for Wegovy in select IO markets," it said. Novo now expects 2025 sales growth of 8%-14% in local currencies, down from its previous 13-21% range. It also lowered its operating profit growth forecast to 10%-16%, from a prior outlook of 16-24%. Sign up for Yahoo Finance Daily Movers By subscribing, you are agreeing to Yahoo's Terms and Privacy Policy Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Independent
13 hours ago
- Business
- The Independent
Why Denmark is becoming the ‘Las Vegas of Europe'
Copenhagen has emerged as a highly sought-after wedding destination for international couples, attributed to its liberal marriage laws and efficient administrative procedures. Many couples, including a Polish-Colombian pair, opt for Denmark to bypass the intricate bureaucratic obstacles encountered in their native countries. Last year, Copenhagen City Hall hosted around 8,000 weddings, with 5,400 of these involving non-Danish residents, representing nearly double the figure from five years prior. This significant increase in demand has resulted in a scarcity of available wedding slots, posing difficulties for Copenhagen residents wishing to marry in their own city. Consequently, Copenhagen authorities intend to allocate 40 per cent of City Hall wedding slots to local residents from late October, with additional measures under consideration.
The Independent
14 hours ago
- Entertainment
- The Independent
The country couples are flocking to for a fast and easy wedding
A Polish-Colombian couple, Magdalena Kujawińska and Heinner Valenzuela, travelled to Copenhagen to marry, circumventing complex bureaucracy at home in Poland. Living in Krakow, the couple had been engaged for over three years but faced significant hurdles. "We realised that it's not that easy to get married in Poland," the 30-year-old Ms Kujawińska said, citing the requirement for a certificate proving they were not already married. A certificate, needed from Colombia, presented an insurmountable challenge due to its three-month validity. "We tried to get it from Colombia, but it's only valid for three months, and it couldn't get to Poland from Colombia in three months. It was just impossible for us," she added. Learning about Denmark 's relaxed marriage laws from a colleague, Ms Kujawińska and her fiancé engaged an online wedding planner. The process proved remarkably swift, with approval granted in just four days. "And in four days, we had the decision that the marriage could be done here," a smiling Ms Kujawińska recounted as they awaited their 10-minute ceremony at Copenhagen 's 19th-century City Hall. Copenhagen attracts couples from around the world Couples who don't live in Denmark, both mixed- and same-sex, are increasingly getting married in the Scandinavian country — prompting some to dub Copenhagen the ' Las Vegas of Europe.' The head of the marriage office at Copenhagen City Hall, Anita Okkels Birk Thomsen, said that about 8,000 wedding ceremonies were performed there last year. Of those, some 5,400 of them were for couples in which neither partner was a Danish resident. 'That's almost double what we saw five years ago,' she said. 'They come from all over the world.' City wants to ensure room for locals But the city sees a downside to that: demand for ceremonies at City Hall now far exceeds the number of slots available. Mia Nyegaard, the Copenhagen official in charge of culture and leisure, said in a statement to The Associated Press that the 'significant rise' in the number of foreign couples getting married in the capital 'poses challenges for Copenhagen-based couples wishing to get married.' Local authorities plan to take action. Nyegaard said about 40 percent of wedding slots available at City Hall will be reserved for Copenhagen residents starting from the end of October. While booking a slot there is the most obvious way to get married in the city, arranging a ceremony with a private registrar is also an option, and that won't be affected. Copenhagen lawmakers will look after the summer break at what else they can do to relieve overall pressure on wedding capacity in the city. Liberal laws Denmark's marriage laws are liberal in several ways. In 1989, the country became the world's first to allow the registration of same-sex civil unions. The legalisation of same-sex marriage followed in 2012. For unions of all kinds, Denmark — unlike many other European countries — doesn't require a birth certificate or proof of single status to obtain a certificate that grants the right to get married in Denmark within four months. Officials might, in cases where divorce papers don't show clearly that a divorce has been finalised, ask for a civil status certificate. Applications to Denmark's agency of family law cost 2,100 kroner ($326), and couples are issued with a certificate within five working days if they satisfy the requirements. Non-resident couples can travel to Denmark and get married with just a valid passport and, if required, a tourist visa. 'We get that thing like, 'Are you sure we do not need a birth certificate?' And we go, 'Yes,'' said Rasmus Clarck Sørensen, director of Getting Married in Denmark. Clarck Sørensen, a Dane, began the wedding planning business with his British wife back in 2014. 'In the last 20, 30 years, people just meet more across borders," he said. 'Marriage rules are often made for two people of the same country getting married.' 'They kind of piled on patches onto marriage law, and a lot of people get trapped in those patches,' he added. His online company's 'Complete Service' package, priced at 875 euros ($1,014), includes help gathering all the necessary documents, processing the certificate application and organising the date of the ceremony. The business says it helped over 2,600 couples last year. Copenhagen, easily Denmark's biggest city with the country's best transport links, is the most popular location and so far appears to be the only one struggling with demand. Any changes to the city's rules will come too late to bother newlyweds Kujawińska and Valenzuela, who are now busy planning a celebration in Poland with family and friends. 'It means a lot for us because we've been waiting a lot for this,' Kujawińska said. 'We're really happy.'
Malay Mail
15 hours ago
- Sport
- Malay Mail
Malaysian shuttlers head to Denmark for high-intensity camp ahead of World Championships
KUALA LUMPUR, July 29 — The national singles shuttlers are heading to Denmark, and it's training, not pastries, on the menu. With the World Championships 2025 in Paris fast approaching, national singles coaching director Kenneth Jonassen said the squad will undergo a week-long training camp at the Denmark national training centre in Copenhagen ahead of the prestigious tournament, which runs from August 25-31. Jonassen, who requested the arrangement, said the training stint with the Danish national team is aimed at raising the Malaysian players' sparring intensity, exposing them to a different training environment, and helping them adapt to European conditions. 'We found that it would be a good solution for us to go and get some additional higher sparring level and to acclimatise (in Europe) 'So for us, I see it as a win-win situation, and we cherish this opportunity to go and prepare well for the World Championship,' he told reporters when met at a training session here today. When asked whether Malaysian players would train alongside Danish stars such as Anders Antonsen, the 51-year-old said such matters were beyond his control. 'I expect there will be top players there, but in what capacity, how many sessions per day, and other details, that's not up to me. 'Denmark have a lot of players, so there are many opportunities for us to change up our training environment,' he said. — Bernama
