Tip: Try a valid symbol or a specific company name for relevant results Novo Nordisk stock gets drilled on pipeline concerns— its CEO sees this as the main problem The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link.
Prices displayed are informational. Shares of the Wegovy maker tanked more than 5% on Monday as the company failed to impress Wall Street at its capital markets day. The company came up short by not sharing more specifics around near-term growth targets amid fierce competition in the weight loss drug market.
The company said it's targeting more than $23 billion in pipeline sales by 2035. It has plans to launch more than five potential multi-blockbusters by the end of the decade. "We have a situation where competition, as we are seeing it, has never been at least in Novo's historical back.
For decades long, this company operated in what you could argue as a duopoly often. Thanks to us, we created an incredibly attractive market, and now almost every other single pharma company, big or small, is trying to come and compete with us. We need to be ready for that," Novo Nordisk CEO Mike Doustdar told investors.
Doustdar took over as CEO at Novo Nordisk in August 2025, succeeding longtime leader Lars Fruergaard Jørgensen. He has spent 33 years at Novo Nordisk, rising from an entry-level office clerk in Vienna in 1992 to the corner office. In 2015, he was promoted to executive vice president of international operations, where he successfully managed the company's entire commercial business footprint outside the US and doubled sales across the division.
Today, Doustdar leads the global healthcare powerhouse as it navigates intense market competition in the GLP-1 market, mainly with rival Eli Lilly (LLY). Doustdar said on the Power Players With Brian Sozzi podcast on Yahoo Finance earlier this month he is focused on improved marketing of Wegovy while continuing to build momentum behind its pill form, which fell short of analyst estimates in the most recent quarter. He is also investing more aggressively in R&D to help overcome future patent expirations in the coming years.
Extract — continue reading at the source.
