Sales of Novo Nordisk’s injectable diabetes drugs including Ozempic have slowed sharply amid fierce competition and the threat of US tariffs, prompting it to cut costs and sharpen its commercial focus.
The Danish drugmaker, whose booming sales of GLP-1 diabetes and obesity drugs in recent years had turned it into Europe’s most valuable company, has lost nearly $100bn (£75bn) in market value since cutting its full-year sales forecast last week, when its share price slid 30% in its worst week in more than two decades. It fell a further 3% on Wednesday.
