
Danish drugmaker aims for over five 'multi-blockbuster' drugs by 2030, but investors react with a 7% share drop.
Novo shares fell up to 7% on Monday as the Danish drugmaker announced plans to launch over five major drugs by 2030 and reach 150 billion kroner in pipeline sales by 2035 to compete in the booming obesity drug market.
AI-generated summary
Novo aims to maintain its position in a competitive obesity drug market it helped pioneer.
Novo shares fell as much as 7% on Monday after the company laid out new growth ambitions to revive its fortunes in the booming obesity drug market.
The Danish company seeks to convince investors it can compete in an increasingly crowded field it helped pioneer.
The company said it aims to launch more than five drugs with "multi-blockbuster" potential by 2030 and generate more than 150 billion Danish kroner ($23 billion) in pipeline sales by 2035.
It also expects revenue growth between 2026 and 2030 to be in line with industry peers.
The announcement was intended to help convince investors it can compete in an increasingly crowded field it helped pioneer but the company's Copenhagen-listed shares fell as much as 7% in morning trading.

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