Novo Nordisk stock falls after soft Wegovy pill sales dull guidance lift
Why it matters: Investors remain focused on price pressure, pipeline doubts and intensifying competition from Eli Lilly.
Novo Nordisk shares fell after the drugmaker raised its full-year outlook but failed to ease concerns about its obesity business. The company reported better-than-expected adjusted sales and operating profit, yet investors zeroed in on lower prices, softer-than-hoped Wegovy pill sales and fresh questions about the strength of its growth plan. The company said lower prices were still weighing on sales even as volumes rose. It also reported another mixed clinical result for next-generation weight-loss drug CagriSema, adding to doubts about its longer-term pipeline. Novo is trying to defend its position against Eli Lilly’s Zepbound and Mounjaro in the U.S. obesity market, while preparing the next Wegovy pill launch in Germany.