Second-quarter sales of the blockbuster drug soared 67% on year, despite millions of U.S. patients using generic unbranded versions of the drug.

Novo Nordisk is to cut costs as the Wegovy-maker battles competition from rival Eli Lilly and copycat versions of its obesity drug, with lower growth expected for its treatments in the second half of the year.

China has massive unmet medical needs, Mike Doustdar, who took over as CEO of Novo Nordisk today, after previously leading its global operations, said at a second-quarter earnings conference call yesterday. The Bagsværd-based company will continue to strengthen its market position in the world's second-largest healthcare market, he added.