Novo Nordisk shares fell 2.5% to DKK319.20 after Deutsche Bank pointed to a continued slowdown in the oral version of the company's Wegovy weight-loss drug in the US. The bank's weekly tracker of prescription data for Novo's GLP-1 franchise, drawing on IQVIA figures up to 26 June, singled out the loss of momentum in the Wegovy pill as the notable shift. Extrapolating current trends, the bank expects single-digit downside for the Wegovy pill over the 2026 financial year and double-digit downside for the injectable version, Wegovy SC, and for Rybelsus, Novo's older oral diabetes drug. Ozempic was the one bright spot, with the bank pencilling in double-digit upside for the year. Deutsche Bank rates Novo 'hold' with a DKK290 price target.
Novo Nordisk A/SPrescription data shows slowdown in Wegovy pill and injectable, indicating weaker end-customer demand.
Deutsche Bank Aktiengesellschaft