Shares rallied Wednesday even after the drugmaker lowered its full-year guidance as alternative versions of its blockbuster weight-loss and diabetes drugs in the U.S. hold back its sales.

Novo Nordisk stock rose after the Danish pharma giant posted better-than-expected quarterly earnings, but cut its guidance for the year. For the full year, the company now expects sales growth between 13% and 21%.

Novo Nordisk on Wednesday reported a better-than-expected rise in net profit but lowered its full-year sales growth forecast.