Novo’s profit warning leads to a $70B loss in market value as shares drop 30%
On Tuesday, investors erased $70 billion from Novo Nordisk’s market value after the company, known for its weight loss drug Wegovy, issued a profit warning. This announcement came alongside the appointment of a new CEO as Novo faces heightened competition in the obesity medication sector. Novo has appointed Magiar Mike Dustdal as its new CEO, […]
FDA approves Hikma’s generic version of Novo’s diabetes drug Victoza
The U.S. Food and Drug Administration on Monday approved Hikma Pharmaceuticals' generic version of Novo Nordisk's diabetes drug Victoza, paving the way for the launch of another treatment in the country. Hikma's branded generic will compete with Teva Pharmaceuticals' approved generic Victoza, which was launched in the U.S. earlier this year. Authorized generics are exact […]