Lates News

Novo Nordisk CEO Mike Doustdar said the company must do more to build investor confidence, given that its main drugs, such as Ozempic, will face patent expiration challenges in the early part of the next decade. Doustdar said: "What we've learned over the past few years is that overpromising and underdelivering can quickly lose trust." Investors "want to know what happens next." Novo Nordisk shares fell on Monday as the company's capital markets day left investors disappointed by the lack of detail on its turnaround plan. Novo Nordisk is facing patent expirations for Ozempic and Wegovy in the United States and Europe, a product family that currently contributes about three-quarters of sales. Novo Nordisk has promised to launch more than five blockbuster new drugs by 2030 and generate more than $23 billion in incremental sales by 2035. These targets are widely seen as already in line with investor expectations. Analysts at BMO Capital Markets said Novo Nordisk is still at a stage where it needs to prove itself with results. Investors need a clearer understanding of the company's next-generation drugs and their potential market acceptance in order to rebuild confidence.