
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.