Novo Nordisk A/S (NVO) experienced a 24-hour plunge of 5.03% during the trading session. The significant decline follows the company's release of a disappointing forecast for the year 2026.
The Danish drugmaker, known for its weight-loss and diabetes medications Wegovy and Ozempic, projected that adjusted sales could fall by 5% to 13% this year, a steeper decline than analysts had anticipated. The company cited several headwinds, including significant pricing pressure stemming from a recent agreement with the U.S. government to lower drug prices for Americans.
Furthermore, Novo Nordisk faces intensifying competition from rivals like Eli Lilly in the lucrative obesity drug market, alongside patent expirations for its key drug ingredient semaglutide in certain international markets. The persistence of compounded, lower-cost copycat versions of its medications in the U.S. also contributes to the challenging outlook, overshadowing a strong initial launch for its new Wegovy pill.
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