Copy-cats of weight-loss drugs Ozempic and Wegovy are hurting Novo Nordisk

Financial Performance - Novo Nordisk has lost approximately 2/3 of its value in the past year [1] - The company has slashed its earnings outlook for the second time this year, leading to a 23% plunge in shares in a day [1] Market Dynamics & Competition - Approximately 1 million patients in the US are using cheaper versions of Novo Nordisk's weight loss and diabetes drugs [1] - Novo Nordisk's imitation problem stems from a failure to meet drug demand, allowing copycats to gain market share [2] - Novo Nordisk is losing market share to US rival ILY, whose competing obesity shot, Setbound, beat Wegovy in a head-to-head trial [3] - US authorities ruled that a shortage of ampic and riggoi was over and asked compounding pharmacies to stop making their own versions in February [2] Strategic Response & Leadership - A new CEO, Maria Mike Dustster, has been appointed and has promised to move fast, sharpen execution, and hinted at cost reductions and job cuts [4] - Investors, the Danish government, and economists will be closely monitoring the new CEO's moves, as even a small stumble could hurt Denmark's economic outlook [4] Product Analysis - Clinical data indicates Wegovy can help reduce heart attacks and strokes [3] - A consensus is growing among doctors that Setbound is a more effective medicine [3]