Medical bottles and a syringe are seen with the Novo Nordisk emblem displayed on a display screen within the background.
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Danish pharmaceutical big Novo Nordisk on Tuesday cuts its full-year gross sales and revenue steerage, citing weaker progress expectations for its Wegovy weight problems drug in the important thing U.S. market.
Shares have been down 15% at 12:11 p.m. London time, shortly after the announcement (7:12 a.m. ET).
The corporate mentioned the decrease outlook was pushed by weaker second-half U.S. gross sales progress forecasts for its Wegovy weight reduction drug and Ozempic diabetes remedy.
“For Wegovy within the US, the gross sales outlook displays the persistent use of compounded GLP-1s, slower-than-expected market growth and competitors,” it added in a press release.
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