Novo Nordisk Shares Sink 70% on Semaglutide Patent Fears as 1.5 Million Start New Pill
Updated
Updated · The New York Times · Sep 1
Novo Nordisk Shares Sink 70% on Semaglutide Patent Fears as 1.5 Million Start New Pill
1 articles · Updated · The New York Times · Sep 1
Summary
Novo Nordisk’s stock remains about 70% below its mid-2024 peak as investors focus on the early-next-decade expiry of the key U.S. semaglutide patent behind Wegovy and Ozempic.
1.5 million people—mostly in the United States—have started Novo’s daily weight-loss pill since its January launch, giving the Danish drugmaker a scientific and commercial win that has not eased market anxiety.
Investor unease persists even after Novo said last month that 2026 sales and profit would not fall as much as previously expected, showing concern has shifted from this year’s earnings to the post-patent outlook.
Mike Doustdar, Novo’s chief executive, argues the market is overemphasizing rivalry with Eli Lilly and underestimating the breadth of Novo’s current and pipeline drugs as it searches for a second act beyond semaglutide.