Novo Nordisk is scheduled to report results for the second quarter on Wednesday. Here is what to know:

PROFIT FORECAST: Net profit is expected to fall 17% to 21.88 billion Danish kroner ($3.37 billion), according to a FactSet poll.

SALES FORECAST: A FactSet poll forecasts sales falling to 71.36 billion kroner from 76.86 billion kroner a year earlier.

Shares trade at 307 kroner, largely flat over the past 12 months.

WHAT TO WATCH:

--Demand for the Wegovy weight-loss pill remains strong, and this should be reflected in a revision to full-year guidance expectations toward the upper end of the forecast range, Sydbank senior analyst Soren Lontoft Hansen said in a note. "However, the financial statements will generally continue to be characterized by intense competition and price pressure, especially in the USA."

--Jyske Bank says the market is already pricing in an upward revision to guidance, and the risk is therefore that the market could be disappointed if a revision isn't made.

--Sydbank estimates second-quarter Wegovy pill sales of 3.2 billion kroner, with Wegovy injection sales falling 2% to 18.34 billion kroner and Ozempic sales down 19% to 26.42 billion kroner.

--Novo Nordisk has guided to a decline in full-year adjusted sales and operating profit of 4%-12% at constant exchange rates. Despite recent disappointing trial data for cardiac drug candidate ziltivekimab, Sydbank says the study won't impact the full-year guidance but it will result in a noncash impairment charge in the third quarter.