Novo Nordisk Faces Investor Concerns as Wegovy Sales Stagnate and Competition Intensifies

Shares drop 25% in March, with compounded drugs and Eli Lilly's Zepbound challenging market dominance.

Novo Nordisk's shares have fallen 25% this month, marking their steepest decline since 2002, as investor confidence wanes.
Weekly prescriptions for Wegovy have stagnated, while Eli Lilly's Zepbound outpaces it by 80,000 prescriptions per week in the U.S.
The FDA declared the semaglutide shortage over, requiring compounded drug sales to cease by May 22, 2025, but off-brand alternatives continue to impact Wegovy's market share.
Novo Nordisk has launched a direct-to-consumer pharmacy offering Wegovy at reduced prices and is pursuing legal action against compounding pharmacies for intellectual property violations.
Disappointing trial results for Novo's next-generation obesity drug, CagriSema, have further fueled investor concerns about the company's ability to maintain its market leadership.