Danish medical company Novo Nordisk drops 17 percent today adding to the extreme losses since 2024.
The stock has dropped 60 percent since its highpoint in 2024, and Novo has already fired 9000 employees of which 4600 are jobs lost in Denmark.
The news are troubling for the small country, where the company plays a key role in the economy, being among the largest tax payers of all time.
However, unemployment in Denmark is still extremely low at 2.9 percent.
@randahl they're one of the few makers of insulin, which is vital and of particular interest to the USA (and me, because my son is Type 1 diabetic). I hope they don't get into any more serious financial difficulties.
@dave they are still wildly successful. It is just that they have underperformed compared to projections.
@randahl But we should look at the chart and understand that it now has a similar value to what it had in 2023. We all need to stop focusing on growth. Growth is unsustainable at the rates that corporate leadership insists on. Why are we not content with status quo?
@randahl Did someone drop a syringe of Wegovy on the trading floor?
@randahl seems the prices Novo Nordisk were able to charge due to being (one of the) 2 first movers on weight loss drugs are now being eroded.
Some of this was predictable so why the irrational market exuberance in the share price (and hiring?) in 2024?
https://uk.news.yahoo.com/novo-nordisk-warns-2026-sales-165936126.html
@randahl Considering everyone chasing their asses off (hah) to get on Ozempic - why is this?
@randahl Not pointing any fingers, but I was contracting for Novo from Feb ‘20 until Nov ‘24.
