Why Novo Nordisk Stock Dropped on Monday

Since pharmaceutical companies rely on the revenue generated from approved medicines, price cuts can put pressure on their fundamentals. That was the dynamic behind Novo Nordisk's (NYSE: NVO) fall on the stock market Monday; news that its Wegovy would cost less in a major market drove the company's shares down by nearly 2%. Novo Nordisk stated only that it was reducing the prices of its highly popular drug in China, although it did not provide details on the specific reductions. Reuters cited a report from Chinese media outlet Yicai stating that the two highest monthly doses of Wegovy received a 48% cut apiece, to between 987 yuan ($141) and 1,284 yuan ($183). Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool