Novo Nordisk Just Pumped And Dumped Their Own Stock (On Accident)

You remember that episode of The Office where Jo Bennett takes Michael Scott on a private jet ride to talk about why he’s struggling so much with Dunder Mifflin being acquired? And Michael, in peak awkwardness, just sighs and says: I’m going through a bit of a rough patch… all year, actually. Yeah, that’s basically Novo Nordisk right now… except instead of an awkward boss on a Gulfstream, it’s got furious investors lighting torches and preparing the pitchforks.

This morning, the Danish pharmaceutical company released trial results for CagriSema, its next-gen weight-loss drug, and the market did not clap. Shares cratered 8%, marking their worst drop since December (because when you promise filet mignon and serve up a gas station hot dog, investors tend to walk… shocking, I know).

If you aren’t super affluent in the pharmaceutical world… weight-loss drugs are the hottest thing in pharma right now. With Hims and Hers offering easy-access prescriptions at the click of a button, the traditional pharma giants are in freakout mode to keep up. If Novo Nordisk thought it had a monopoly on this market, it just got sent to jail.

Here’s why everyone is mad. Novo originally hyped up CagriSema as a generational talent (in football terms), forecasting 25% weight loss for patients. Instead, the latest trial data showed just 15.7% over 68 weeks for obese or overweight type 2 diabetics. That’s… fine? But fine doesn’t cut it. For context, Novo’s December trial showed 22.7% weight loss, and even that was seen as a disappointment.

When the news dropped, Novo’s stock immediately fell through the floor which caused the market cap to drop by around $48 billion. For context, this is the same company that lost nearly $100 billion in market value last year when its initial CagriSema trial didn’t deliver the blockbuster results investors had been hoping for. Rival Eli Lilly, which makes competing weight-loss drug Zepbound, saw a slight bump in share price as investors shuffled their bets.

But before we start shorting Novo’s funeral, let’s not forget… this company is still making hay with Wegovy and Ozempic. CagriSema isn’t dead, it’s just not the miracle pill the market wanted. Novo still plans to file for regulatory approval in early 2026, so there’s time to turn this around… but they better hurry, before institutions sell the stock for more HIMS.

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Stock.News does not have positions in companies mentioned.