Novo Nordisk’s weight-loss drug sales are slumping so much that the entire nation of Denmark could see an export slowdown
Sales of Novo Nordisk’s obesity drugs have slowed to the point that the company’s home country, Denmark, sees an export slowdown on the horizon.
The Danish Economic Councils, the country’s economic watchdog, released a report on Tuesday saying Danish exports will grow less than expected, in part because of Novo’s recent sales slump paired with its efforts to offshore production away from its home country. Novo is the second-largest company in Europe and plays an outsized role in Denmark’s economy.
Novo’s sales of its blockbuster diabetes and weight-loss drugs, Ozempic and Wegovy, have dropped amid fierce competition from newer drugs. That slowdown has weighed on its stock price, which led the company to oust its CEO.
Novo’s sales of its blockbuster diabetes and weight-loss drugs, Ozempic and Wegovy, have dropped amid fierce competition from newer drugs. That slowdown has weighed on its stock price, which led the company to oust its CEO.
