Why Shares of Novo Nordisk Stock Collapsed This Week

Shares of Novo Nordisk (NYSE: NVO) were down over 20% this week as of this writing on Friday, February 6th, at 11:00 AM EST, according to data from S&P Global Market Intelligence. The famed drugmaker has struggled over the last two years due to heavy competition and pricing pressure for weight-loss drugs. It is also trying to deal with aggressive competition from Hims & Hers. Right now, Novo Nordisk stock is down 68% from all-time highs set in early 2024. Here's why it was falling again this week, and wh ...