Novo Nordisk’s Torrid Week Erases Last of Wegovy-Fueled Gains

The weight loss-fueled gains of Danish drugmaker Novo Nordisk A/S are officially a thing of the past. The stock this week wiped out the last of the yearslong surge that followed the 2021 US approval of its Wegovy obesity drug, after a next-generation shot delivered less weight loss than that of its main rival. Most Read from Bloomberg Down 21%, the shares are on track for their steepest weekly slump since August, surpassing one of 20% earlier this month that followed a dire sales forecast. The setback ...