The Danish maker of Ozempic and Wegovy reported a 25 percent increase in sales to $40.6 billion, but said it expected slower growth this year.

Danish pharmaceutical behemoth Novo Nordisk on Wednesday reported better-than-expected net profit in the fourth quarter, amid soaring demand for its Wegovy obesity drugs. Net profit for the fourth quarter came in at 28.

Obesity drug maker Novo Nordisk forecast slower growth this year after Wegovy sales more than doubled in the fourth quarter, with analysts and investors describing the results as "good enough" to ease nerves about stiff competition from rival Eli Lilly.