How Novo Nordisk Is Aiming for a Weight-Loss Recovery: QuickTake

Danish drugmaker Novo Nordisk A/S was at the forefront of the weight-loss injection boom as people discovered that its Ozempic shot, originally developed to treat diabetes, could help trim their waistlines.

Novo took the active ingredient of Ozempic, semaglutide, and rebranded it as Wegovy to be used specifically for weight loss. The success of these blockbuster drugs helped Novo become the most valuable publicly listed company in Europe.

But its fortunes reversed amid intense competition from cheaper copycat products and archrival Eli Lilly & Co. Novo lowered its full-year earnings guidance for the fourth time in early November.

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