Novo Nordisk Cuts Guidance Amid Competition for Obesity Drugs

Novo Nordisk has revised its financial guidance downward due to increasing competition from copycat versions of its popular weight-loss drug, Ozempic. This competition has impacted sales significantly. Despite the cut in guidance, Novo Nordisk’s stock experienced a jump following its earnings report, driven partly by demand for Wegovy, another weight-loss drug in its portfolio. The company remains optimistic about potential recovery in the U.S. market for Wegovy. — new from WSJ

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