Ozempic-Maker Novo Nordisk Reveals Patients Stay On Wegovy Weight-Loss Drug For 6 Months Due To Low Availability
Portfolio Pulse from Benzinga Neuro
Novo Nordisk (NYSE:NVO) reported that U.S. patients are staying on their Wegovy weight-loss medication for an average of six months due to supply shortages. The company adjusted its full-year profit outlook downward due to weaker-than-expected sales of Wegovy. Novo Nordisk's shares dipped by 2.94% in pre-market trading following the announcement.
August 07, 2024 | 1:37 pm
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Novo Nordisk's shares dipped by 2.94% in pre-market trading after the company reported weaker-than-expected sales of Wegovy and revised its full-year profit outlook downward.
The weaker-than-expected sales of Wegovy and the downward revision of the profit outlook are significant negative factors impacting Novo Nordisk's stock price. The supply issues and competition from Eli Lilly's Zepbound further exacerbate the situation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100