The shares of Novo Nordisk fell by more than 20% on Tuesday when the company named a new CEO and reduced its profit expectations, which cited the weak sales of its popular weight -loss drug Vegovi due to competition from copycat drugs.
In a statement on Tuesday, Novo Nordisk Said In May, its sales are expected to increase by 8%-14%for 2025 below 13%-21%estimate. This reduced its expectations by 10%-16%for the operational profit increase, below 16%-24%in May.
The update Outlook “compounded GLP-1s, reflects the slow-to-intake market expansion and frequent use of competition,” the company said. Glucagon -like peptide -1 agonist (GLP -1S), a section of drugs used to manage diabetes, Appearance Weight loss industry.
The Danish Pharmaceutical Company on Tuesday announced the appointment of Maziyar Mike Dauster, which as the Chairman and CEO. DawdarThose who have worked for more than 30 years in Novo Nordisk, will take the hull starting on August 7.
Doustdar Lars will succeed Frugard Jorgensen, who announced his departure as CEO of Novo Nordisk in May, after a huge fall in the company’s share price, which has fallen nearly 37% since the beginning of this year.
Arrived for the comment, a Novo Nordisk spokesperson said that he had nothing extra to share the company before the call, which is scheduled for Wednesday, August 6.
Imitation drugs prevailing market
While the global sales of Wegovi are increasing, the sale of weight -deficit drugs is expected to weaken in some markets due to increasing competition in some markets. Mixed edition Of medicine.
Compounded weight-loss drugs contain similar active ingredients as ozmpic such as vegovi and other popular brands, and name-brand drugs are used as an alternative when available. However, in April, the Food and Drug Administration (FDA) said that there is no shortage of GLP -1 and Ordered Compounding pharmacies to prevent pharmacies from selling their copy versions of drugs.
Despite this Attempt However, they continue to enter the market mixed versions of drugs, which gives consumers a cheaper option for name-brands like Vagovi, which may cost more than the cost of which can cost more than the cost. $ 1000 Package per package for those without insurance.
In June, Novo Nordisk Ended its partnership Hims & hers have claimed with Health that online drug retailer was selling fake version of Wagovi, a trick novo nordisk Said “Pour the patient’s safety at risk.”
CBS News Medical contributor Dr. Slipper gounder Told CBS News There is not much inspection in the mixed drug market in the last year, and if it comes to quality and risk associated with each drug, there is a wide range.
Novo Nordisk said that it is chasing several ways to protect patients from “knockoff ‘semaglutide’ including litigation. Semaglutide is Active ingredient Found in vegovi and ozmpic.
The company said, “Novo Nordisk is concerned with the depth that, without aggressive intervention by federal and state regulators and law enforcement, patients will be conveyed to the knockoff ‘semglutide’ drugs and will be conveyed to important risks made with illegal or inhuman foreign active pharmaceutical ingredients by drugs.” statement,
Contributed to this report.
