Core Points - Novo Nordisk's stock has dropped 21% following a reduction in full-year guidance, overshadowing the appointment of a new CEO [1][2] - The company has lowered its sales growth forecast from 13%-21% to 8%-14% and its operating profit guidance from 16%-24% to 10%-16% [3] - Weaker U.S. sales of its weight loss drugs, Wegovy and Ozempic, were cited as a reason for the guidance cut [4] Company Leadership - Novo Nordisk appointed Mike Doustdar as the new CEO, effective August 7, following the unexpected removal of the previous CEO, Lars Fruergaard Jørgensen [2] - The board chairman expressed optimism about the leadership change, but investor sentiment was negatively impacted by the guidance cut [2] Financial Outlook - The company is facing significant competition from compounded versions of its drugs, but this threat is expected to diminish as the FDA restricts their sales [5] - Novo Nordisk's stock is currently trading at one of its lowest price-to-earnings ratios in nearly 30 years, presenting a potential investment opportunity [5]