Novo Nordisk shares actions after Wegovy-Maker has reduced advice from year to year

The Danish pharmaceutical giant Novo Nordisk reduced its advice on sales and profits in year Tuesday, citing lower growth expectations for its Wegovy obesity medication on the key American market.

The shares dropped by 17% at 12:30 p.m. London time, shortly after the announcement (7:30 am he).

The company said it is now expecting annual sales growth from 8% to 14% at constant exchange rates, down compared to a prior target of 13% to 21%.

It provides for annual growth in operating profits from 10% to 16% compared to the objective previously estimated from 16% to 24%, also at constant exchange rates.

Novo Nordisk said the lower prospects were fired by lower sales growth forecasts in the United States for its Wegovy weight loss medication and ozempic diabetes treatment.

“For Wegovy in the United States, sales prospects reflect the persistent use of compound GLP-1s, expansion and market in the slower than expected market,” he added in a statement.

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