Medical bottles and a syringe are seen with the Novo Nordisk logo displayed on a screen in the background.
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Danish pharmaceutical giant Novo Nordisk on Tuesday cuts its full-year sales and profit guidance, citing weaker growth expectations for its Wegovy obesity drug in the key U.S. market.
Shares were down 15% at 12:11 p.m. London time, shortly after the announcement (7:12 a.m. ET).
The company said the lower outlook was driven by weaker second-half U.S. sales growth forecasts for its Wegovy weight loss drug and Ozempic diabetes treatment.
“For Wegovy in the US, the sales outlook reflects the persistent use of compounded GLP-1s, slower-than-expected market expansion and competition,” it added in a statement.
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