Why Shares of Novo Nordisk Stock Sank (Again) This Week

Shares of Novo Nordisk (NYSE: NVO) sank 20% this week, according to data from S&P Global Market Intelligence. The drugmaker behind the weight-loss drug craze is in the midst of a terrible drawdown -- 75% as of this writing -- due to a bad trial for its new weight-loss drug in a head-to-head battle with Eli Lilly. Plus, the company announced additional price cuts for its weight-loss drug Wegovy in 2027, due to pressure from the U.S. government.Here's why Novo Nordisk stock fell again this week, and whether it is a buy right now. Novo Nordisk has a new weight-loss drug called CagriSema that it hopes will be more effective than its initial blockbuster, Wegovy, in helping patients lose weight. To prove its might, Novo Nordisk conducted a trial to compare the performance of CagriSema vs. Eli Lilly's Zepbound. However, the trial results were not in Novo Nordisk's favor, with patients who used Zepbound losing slightly more weight than those who used CagriSema.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool