Where Data Tells the Story
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ast July, Novo Nordisk, the drugmaker that brought us Ozempic and Wegovy, was sitting pretty as Europe’s most valuable company — and, with a margin of more than $200 billion between it and storied luxury house LVMH, it wasn’t even really close. A lot can change in a year.
Since peaking just shy of $660 billion last summer, Novo has been shedding market cap almost nonstop. Yesterday, shares ended up posting their steepest single-day drop in the Danish behemoth’s history, sliding 23% after the company slashed its sales and profit outlook for the year ahead. Now, Novo’s new CEO, a veteran insider who was announced with the slimmed-down outlook yesterday, will have his work cut out to stop the bleeding.
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