Ozempic's Novo Nordisk issues profits warning

DANISH pharmaceutical giant Novo Nordisk’s first half results came hot on the heels of a profit warning and the appointment of a new CEO.

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That's not the first time the name behind anti-obesity injection Wegovy and diabetes jab Ozempic has trimmed guidance this year.

Investor patience was already wearing thin, but the stock has cratered even further since the latest downgrade. The new boss Maziar Mike Doustdar has stepped up from the role of executive vice president of International Operations.

Markets may have been hoping for a fresh pair of eyes but he is well accustomed to navigating choppy waters. That is just as well, as there are lots of challenges ahead.

In the United States, Novo has been losing market share in the all-important GLP1 class of drugs for diabetes and weight loss.