Novo Nordisk has faced a sharp reversal from its Wegovy-fueled boom, with Reuters reporting the company had lost about $475 billion in market value from its peak as of February 2026.
The company has been hit by repeated setbacks, including disappointing trial results for next-generation obesity drug CagriSema, which failed to beat Eli Lilly’s rival treatment in a key comparison.
Novo also warned of weaker sales and profit growth, citing pricing pressure, competition, and patent expirations; shares plunged after the company cut its outlook.
Later reports showed another blow when experimental heart drug ziltivekimab failed to significantly reduce major cardiovascular events in a late-stage trial, erasing tens of billions in market value.
The overall theme in the coverage is that Novo is trying to reset investor confidence after a period of turmoil and disappointing pipeline and guidance news.
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