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Is Novo Nordisk Stock a Buy After its Share Price Collapse?

By Ilene
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Is Novo Nordisk Stock a Buy After its Share Price Collapse? 

Novo faces tough competition from its main US rival and cheaper copycat obesity drugs.

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Novo Nordisk NVO, the Danish drugmaker behind weight-loss drugs Ozempic and Wegovy, has seen its share price tumble to multiyear lows after a series of setbacks shook investor confidence.

An announcement on July 29 that Novo was cutting its 2025 sales and profit forecasts caused its stock to drop 20%. Tens of billions of dollars in market value were erased in a matter of hours after a warning that slower-than-expected uptake of the firm’s obesity treatments would weigh on growth, along with rising competition from US rival Eli Lilly LLY and cheaper copycat obesity drugs.

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