
Novo Nordisk slides on patent cliff worries after cautious growth targets
Novo Nordisk shares fell more than 7% after its Capital Markets Day failed to reassure investors about weight‑loss drug competition and looming semaglutide patent expiry, as the company projects five multi‑blockbuster drugs by 2030 and over 150 billion Danish kroner in risk‑adjusted pipeline sales by 2035, while acknowledging a CagriSema Phase 3 miss and tight competition in the obesity drug market (Lilly leads ~61% vs Novo's ~39%).
