Novo Nordisk shares are down 18% after the company guided for sales and profit to drop about 13% in 2026. This missed analyst expectations significantly. They cited pricing headwinds in the US, specifically mentioning Trump's MFN policy and the IRA. Patent expirations in international markets and competition from Eli Lilly are also hurting them. Management pointed to the new oral Wegovy pill getting 50k weekly prescriptions as a positive, but the market obviously didn't like the overall outlook.