Novo Nordisk Considers Acquisitions Amid Intensifying Competition for Weight-Loss Drugs
Novo Nordisk is exploring acquisitions to bolster its weight-loss drug pipeline as competition grows, according to CEO Mike Doustdar. Speaking on CNBC's Squawk Box Europe, he highlighted the company’s interest in acquiring medicines that could complement or outperform internally developed treatments and fill gaps in their portfolio. The comments came after a capital markets day event failed to reassure investors about Novo Nordisk's competitive position and looming patent expiries for its flagship drugs Wegovy and Ozempic. Shares fell nearly 8% following the presentation, marking one of the company’s largest single-day declines since February. The two medications account for around three-quarters of Novo Nordisk’s sales. The pharmaceutical giant aims to develop more than five new blockbuster medicines by 2030 and generate over $23 billion in additional revenue by 2035, though these goals were seen as consistent with existing expectations rather than surprising. Doustdar acknowledged the need for rebuilding investor confidence after past missteps.
Tickers: $NVO
Topics: Acquisitions Investor Relations Patents Pharmaceuticals Weight-Loss Drugs