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Novo Nordisk Stock Plummets Amid Disappointing GLP-1 Drug Sales
Novo Nordisk Stock Plummets Amid Disappointing GLP-1 Drug Sales
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BTCCSquare news:
Novo Nordisk shares tumbled 33% this week after the Danish pharmaceutical giant slashed its full-year sales and profit guidance. The company now expects sales growth of 8%-14%, down from its previous 13%-21% forecast, as demand for its blockbuster GLP-1 drugs Ozempic and Wegovy underperformed expectations.
Competition from compounders—firms producing tailor-made versions using Novo's active ingredients—has eroded market share. Despite the setback, the stock's historically low price-to-earnings ratio presents a potential entry point for long-term investors.
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