Novo Nordisk shares plunged in early trading as the company pledged to launch more than five blockbuster drugs and deliver more than $23 billion in new sales in coming years. The plans disappointed investors hoping for more concrete turnaround plans from Chief Executive Officer Mike Doustdar after the Danish drugmaker lost its lead in the booming obesity market to Eli Lilly. Bloomberg's Sanne Wass reports. shares in Novo, Novo Nordisk, of course, falling and pretty sharply as you can see after announcing it aims to deliver more than 150 billion Danish Krona, that's about 23 billion dollars in pipeline sales in 2035.
Novo is holding its capital markets day at a pivotal time for the drug maker. Bloomberg's Sanne Wass joins us now. Sanne, investors clearly not happy with what they've heard so far.
Yeah, I mean, this new strategy this strategy that Novo has launched today, it has been highly anticipated by investors. They have been wait waiting for reassurance as to what Novo Nordisk plans to do for the long term to to stay relevant and and to beat off competitors. Um, and um so Novo presented the plan today.
Uh one of the things we're looking for is really, um, how it it really plans to, you know, replace Wegovy and Ozempic or what will drive growth once the patents for those drugs start to run out at the beginning of the next decade. And and um the investors were clearly not happy with the answers that that they got. And and I think that's very much to do with the fact that there were very a lot of broad visions and and statements about directions today, but investors, they were lacking um some some concrete um ways in which Novo uh wants to get there uh and and the the specific targets that it it did give um clearly failed to impress.
But remember, it's only just launched this new strategy, the capital market's Day is ongoing. So we're still going to kind of see what what the um executives are going to say today and I believe that the shares have already recovered a little bit from from the fall this morning. They they fell pretty sharply.
They're now down 4.2%, but the drop was was larger. Um what else uh Sanne has has kind of stood out to you and you make the valid point. We're early days in terms of this capital markets Day for Novo.
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