Novo shares fall as company outlines post-Wegovy growth plan

Novo Nordisk shares fell on Monday after the company presented its longterm strategy for growth beyond Wegovy and Ozempic. At a Capital Markets Day in London, CEO Mike Doustdar said the drugmaker aims to launch more than five drugs with multiblockbuster potential by 2030 and expects more than 150 billion Danish kroner in riskadjusted pipeline sales by 2035. The company said revenue growth from 2026 through 2030 should be in line with industry peers, but it gave few additional details. Investors reacted cautiously, with shares in Copenhagen dropping as much as 7% before recovering some losses. The stock was still down 5.4% in afternoon trading. Doustdar said Novo is preparing for the loss of patent exclusivity on semaglutide, the key ingredient in Wegovy and Ozempic, which is set to face U.S. patent expiration in 2032. He said the company wants to become a more diversified business and expand beyond obesity and diabetes into areas such as blood and endocrine disorders, liver disease, and cardiovascular disease.