Why Novo Nordisk Stock Is Falling Today

Shares of Novo Nordisk (NYSE: NVO) are tumbling on Monday. The company's stock lost 8.9% as of 10:10 a.m. ET and was down as much as 9.2% earlier in the day. The drop comes as the S&P 500 (SNPINDEX: ^GSPC) lost 1.7%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 2.8%.Novo Nordisk announced that its next-generation weight-loss drug CagriSema helped obese or overweight adult patients with type 2 diabetes lose 15.7% of their weight in a recent trial. That figure is well short of the 25% weight loss the company had expected.The setback comes at a crucial time for Novo Nordisk, which had positioned CagriSema as its next-generation weight-loss treatment. The current generation, made up of blockbuster drugs like Wegovy and Ozempic, have been cash cows for Novo.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool