Novo Nordisk (NVO) Shares Plunge 23% After Disappointing Drug Trial Results

Dec 20, 2024

Novo Nordisk (NVO, Financial) experienced a significant drop of 23% in its stock price, marking the largest single-day decline in 22 years. This sharp decrease occurred after the company's weight-loss drug, CagriSema, failed to meet expectations in recent trial results. The disappointing outcome has raised concerns among investors about the future potential and profitability of this drug, which was anticipated to be a major revenue driver for Novo Nordisk. The trial results have led to a reevaluation of the company's growth prospects and have significantly impacted investor confidence.

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