Novo Nordisk A/S (NYSE:NVO) stock has plunged around 41% year to date, as per data from Benzinga Pro.

Novo Nordisk’s stock was significantly hit when the company shared headline results from the REDEFINE 2 phase 3 trial in the global REDEFINE program, investigating once-weekly subcutaneous CagriSema (a fixed dose combination of cagrilintide 2.4 mg and semaglutide 2.4 mg) compared to placebo.

First in May, Novo Nordisk lowered its 2025 sales growth, then again in July, it further trimmed its 2025 guidance. During its third quarter, the Danish company revised sales growth guidance to be 8-11% at CER.

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The shift underscores a sharp reversal for a company that began the year as Europe’s most valuable listed firm. With the core U.S. patent for semaglutide, the active ingredient in Wegovy and Ozempic, set to expire in 2032, investors are increasingly questioning ...