Why Shares of Novo Nordisk Stock Sank (Again) This Week

Shares of Novo Nordisk (NYSE: NVO) sank 20% this week, according to data from S&P Global Market Intelligence. The drugmaker behind the weight-loss drug craze is in the midst of a terrible drawdown -- 75% as of this writing -- due to a bad trial for its new weight-loss drug in a head-to-head battle with Eli Lilly. Plus, the company announced additional price cuts for its weight-loss drug Wegovy in 2027, due to pressure from the U.S. government. Here's why Novo Nordisk stock fell again this week, and wheth ...