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Why Novo Nordisk Stock Is Slumping Today

George Budwell, The Motley Fool
·2-min read
Why Novo Nordisk Stock Is Slumping Today

Shares of the Danish drugmaker Novo Nordisk (NYSE: NVO) were down by 5.4% on unusually high volume as of 11:50 a.m. ET Thursday morning. The key issue weighing on the drugmaker's shares today is the news that Novo will have to start rationing lower-strength starter doses of the popular weight loss drug Wegovy in the U.S. to meet demand. Despite a second contract manufacturer coming online in April, Novo's management expects this shortage to persist for "some months."

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