The Novo Nordisk headquarters in Bagsvaerd, Denmark. Photo: Bloomberg
Reuters
Wegovy maker Novo Nordisk warned yesterday that profits and sales could drop as much as 13pc this year, the first declines in years, in a new setback for the obesity drug pioneer as it struggles to claw back market share from rival Eli Lilly.
Novo said its outlook was hit by lower realised prices, especially in the US, fierce competition and the expiry of patents on semaglutide – the active ingredient in its Wegovy and Ozempic drugs – in some markets outside the US.
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