COPENHAGEN—Novo Nordisk shares fell as much as 16 percent on Monday after the Danish drugmaker was hit by U.S. supply issues for its new obesity drug as it seeks to establish a market foothold before the launch of a rival drug by Eli Lilly.
The obesity market has proved difficult for pharmaceuticals companies, but Novo made a breakthrough with its Wegovy drug. The company hopes the drug, which helps to achieve weight loss of 17 percent on average over almost two years, will offset growing pressure on its core insulin business.
