Is Novo Nordisk Stock a Buy After its Share Price Collapse?
Key Takeaways
- Novo Nordisk stock has dropped to multiyear lows due to slower obesity drug uptake, strong competition from Lilly, and continued sales of alternatives.
- A revival for Novo’s stock depends on successful drug launches, curbing compounded drug sales, and expanding into new treatment areas.
- Morningstar still sees long-term strength in Novo’s portfolio and new launches.
Novo Nordisk NVO, the Danish drugmaker behind weight-loss drugs Ozempic and Wegovy, has seen its share price tumble to multiyear lows after a series of setbacks shook investor confidence.
An announcement on July 29 that Novo was cutting its 2025 sales and profit forecasts caused its stock to drop 20%. Tens of billions of dollars in market value were erased in a…
