US EditionNovo Cuts Guidance, Names New CEO as Obesity Drug Challenges Mount
- Novo Nordisk named Maziar Mike Doustdar as its new CEO to address investor concerns about competition in the obesity drug market.
- The company has lowered its 2025 sales growth outlook to 8%-14% from 13%-21%, leading to a steep drop in stock value, with shares down nearly 30% on the announcement.
- Novo's challenges include competition from Eli Lilly's Zepbound, which has surpassed Wegovy prescriptions, contributing to a loss of $70 billion in market value.
- Doustdar acknowledges the urgent need for change, stating that Novo must execute its strategies differently to regain ground in the market.
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Wegovy maker Novo’s profit warning wipes out $70B in market value after shares plunge 30%
Investors wiped $70 billion 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.
·New York, United States
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NVO stock: Why did Novo Nordisk shares drop 20% today—and who is Maziar Mike Doustdar?
Health-related stocks are not having a good day. First, America’s largest health insurance provider, UnitedHealth Group (NYSE: UNH), saw its stock drop more than 4% this morning after the company announced disappointing second-quarter results and a full-year 2025 forecast that concerned investors. And now, the Danish pharmaceutical giant Novo Nordisk A/S, whose shares (NYSE: NVO) trade on the New York Stock Exchange, is seeing its stock price pl…
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Total News Sources18
Leaning Left4Leaning Right3Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
13%
R 38%
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