Novo Nordisk has experienced a drastic decline in market value, losing nearly $100 billion after lowering its sales forecast for the second time this year. The company’s leading product, semaglutide, sold as Ozempic and Wegovy, is effective for diabetes treatment and weight loss. Originally valued at over $600 billion, the unmet demand for these drugs led to significant supply shortages. The situation was exacerbated as compounded versions of the drugs emerged in pharmacies, revealing a complicated balance between demand and supply.
Novo Nordisk, creator of the mega-hit drug Ozempic, has seen a loss of nearly $100 billion in market value due to collapsing sales and missed forecasts.
Novo Nordisk’s leading product, semaglutide, significantly helped treat diabetes and weight loss but also led to a demand that exceeded supply, complicating their business.
The FDA approval of semaglutide for weight management in 2021 created a surge of interest in GLP-1 agonists, despite Novo Nordisk struggling with supply issues.
Novo Nordisk’s valuation soared to over $600 billion last year, but the inability to meet high demand for semaglutide has drastically affected its market value.
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