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Euronews
Euronews
Eleanor Butler

Novo Nordisk shares plummet over 20% on weight-loss drug sale slump

Novo Nordisk shares fell by over 20% on Tuesday after the firm slashed its full-year guidance, blaming weaker US sales expectations for its obesity drug Wegovy and Ozempic diabetes treatment.

In the wake of the sell-off, the pharma giant said long-time employee Maziar Mike Doustdar would take over as president and CEO, replacing Lars Fruergaard Jørgensen — who unexpectedly stepped down in May.

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