Novo Nordisk's U.S.-traded shares slid 13% Tuesday after the drugmaker unexpectedly warned that its 2026 sales would decline more sharply than expected, as pricing pressure weighs on U.S. sales of its popular diabetes and weight-loss drugs.
The Danish company said it expects global full-year 2026 sales to drop between 5% and 13% from 2025 levels, excluding currency fluctuations. In comparison, sales rose 10% for full-year 2025.
The company said that U.S. sales should decline because of lower prices for drugs including Ozempic and Wegovy, citing its recent agreement with the Trump administration to cut prices. The active ingredient of both drugs also will lose patent exclusivity in certain countries outside the U.S., which could clear the way for low-cost generic competition.
The diminished outlook is the latest piece of bad news for the once high-flying company, which helped pioneer the weight-loss drug market.
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