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Medical bottles and a syringe are seen with the Novo Nordisk brand displayed on a display within the background.
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Danish pharmaceutical big Novo Nordisk on Tuesday cuts its full-year gross sales and revenue steering, citing weaker progress expectations for its Wegovy weight problems drug in the important thing U.S. market.
Shares had 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 enlargement and competitors,” it added in a press release.
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