Novo Nordisk cautioned on Wednesday that it expects continued competition this year from copycat versions of its Wegovy obesity drug, as it battled pressure from compounding pharmacies in the United States and rival Eli Lilly.

Novo Nordisk faces a critical phase with its obesity drug Wegovy as it confronts competition from Eli Lilly and potential job cuts. Despite lucrative past sales, Novo warns of slower growth due to rival generics and compounding pharmacies,

Competition from compounders had Novo cut its full-year sales and profit outlook, $95-billion wiped off company market value