@UndyingValue 1 day ago
Novo Nordisk drops 16% after next-gen obesity drug misses expectations
Novo Nordisk drops 16% after next-gen obesity drug misses expectations
Novo Nordisk shares dropped over 16% on Monday after their new obesity drug CagriSema underperformed a rival drug from Eli Lilly. The drop has wiped out gains from the Wegovy boom, sending the stock back to levels last seen in June 2021. Eli Lilly shares rose 4% on the news. Analysts noted this is a significant setback that could hurt Novo's ability to compete in the weight-loss market.
finance.yahoo.com
| Novo Nordisk's $475-billion rise and fall as Wegovy-era gains wiped out
@MasonCarter10 1 day ago
Brutal hit. Weight loss trade is not a one horse race and just showed it. still a beast long term, but this proves hype can flip fast when the data disappoints. Not a widow maker, but definitely a gut check for holders.
