Novo Nordisk Investors Just Got Terrible News. Should You Sell the Stock?

Denmark-based pharmaceutical giant Novo Nordisk (NYSE: NVO) has been struggling during the past year. Its financial results -- though strong by comparison to most of its peers -- haven't been as good as investors expected. The company has also faced clinical trial setbacks: An otherwise promising weight loss medicine it developed failed to impress the market with its late-stage results.Now, Novo Nordisk is getting even more bad news, thanks to developments from its biggest competitor in the diabetes and obesity drug markets: Eli Lilly (NYSE: LLY). Should investors give up on Novo Nordisk?Novo Nordisk's sales have been growing fast thanks to GLP-1 medicines like Ozempic for diabetes and Wegovy for weight management. In 2024, revenue increased by 25% year over year to 290 billion Danish kroner ($44.7 billion). As of November, the drugmaker held a 55.1% share of the GLP-1 diabetes market, a slight increase from its 54.8% share as of November 2023. However, it could soon see its market share in this area, which it has long dominated, decline.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool