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.

Sales of Novo Nordisk's blockbuster Wegovy obesity drug rose 67% in the second quarter despite continued competition from compounded drug makers. The pharma giant last week cut its full-year guidance and named Mike Doustdar as its new CEO.

Novo Nordisk has announced the filing of 14 new lawsuits against the sale of unapproved compounded drugs claiming to contain semaglutide, an active ingredient in its weight-loss and diabetes drugs, Wegovy and Ozempic,