Novo Nordisk shares dropped over 5% after its capital markets day as the CEO warned of rising competition and set a $23 billion pipeline sales target by 2035.
Novo Nordisk shares fell more than 5% on Monday after the company’s capital markets day, where it did not disclose near‑term growth targets amid intensifying competition in the weight‑loss drug market.
CEO Mike Doustdar told investors that competition has never been as strong as it is now, noting that the firm, once operating in a near‑duopoly, now faces rivals of all sizes and must be prepared.
The company said it is aiming for more than $23 billion in pipeline sales by 2035 and plans to launch over five potential multi‑blockbuster products by the end of the decade. Doustdar said the focus is on better marketing of Wegovy, accelerating the rollout of its pill form, and increasing R&D spending, while also pursuing partnerships and acquisitions to offset future patent expirations and maintain semaglutide sales.
The available reporting is limited to these statements; further details on financial forecasts or broader market implications were not provided.