Novo Nordisk is entering the new year under mounting pressure after a dramatic reversal of fortunes that has turned the once high-flying drugmaker into one of Europe’s weakest large-cap performers. The Danish pharmaceutical group is now fighting to regain investor confidence as competition intensifies in the lucrative U.S. weight-loss market.
Shares in Novo suffered their steepest annual decline since the company began trading in Copenhagen more than three decades ago. The selloff followed repeated guidance cuts, growing market share losses to rival Eli Lilly, leadership turmoil, and the rapid spread of lower-cost copycat drugs in the United States.
Investor sentiment received a brief boost late last year when U.S. regulators approved Novo’s oral version of Wegovy, making it the first GLP-1 pill authorized for weight loss. The announcement sent the stock sharply higher, offering a rare moment of relief after months of negative headlines.
Analysts say the approval highlights both the opportunity and the urgency now facing the company.
