Novo Nordisk's $475-billion rise and fall as Wegovy-era gains wiped out

Feb 23 (Reuters) - Novo Nordisk shares slumped by more than 16% on Monday, wiping away the remaining ‌gains brought by its blockbuster weight-loss drug Wegovy, ‌after the drugmaker said its next-generation obesity drug CagriSema underperformed Eli Lilly's ​rival. Novo, which in 2024 was worth more than $650 billion, has since shed around $475 billion, with the shares back at levels last seen before Wegovy transformed it into Europe's most ‌valuable drugmaker. Novo's shares ⁠fell to their lowest level s ...