Novo Nordisk Shares Drop Significantly Amid Sales and Profit Warnings

Novo Nordisk has lowered its sales forecast for the obesity drug Wegovy due to increased competition from compounded versions made by pharmacies, which are not FDA-approved but are legally customized for individual patients. The company is taking legal action to address this issue and has announced a new CEO, Maziar Mike Doustdar. Despite efforts to sell Wegovy directly to consumers, sales through cash channels have been lower than expected, impacting the company's stock.