Novo Nordisk became Europe’s most valuable listed company following the launch of Wegovy in 2021
A new study has been launched to see if a side effect linked to weight loss drugs may be linked to genes (Alamy/PA)
Investors knocked $70bn off Novo Nordisk’s market value on Tuesday after the maker of weight-loss drug Wegovy issued a profit warning and named a new CEO, as it battles rising competition in the obesity drug market.
Novo named Maziar Mike Doustdar as its new chief executive, turning to an experienced insider to revive sales and a share price hit by worries the company is falling behind in the weight-loss drug race it started.
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