Novo Nordisk shares fall as investors react coolly to long-term growth strategy
Novo Nordisk's stock plummeted after the company's Capital Markets Day in London failed to reassure investors about its ability to compete in the crowded weight loss drug market, with CEO Lars Fruergaard Jørgensen presenting a roadmap targeting $23 billion in revenue by 2035. Investors expressed concerns about the drugmaker's post-Wegovy growth prospects despite plans to expand its pipeline through acquisitions.