CNBC's Silvia Amaro takes a look at the rise and fall in Novo Nordisk shares.

Copenhagen

Novo Nordisk, a leading Danish pharmaceutical firm, saw its shares rise dramatically after the success of its weight loss drug Wegovy, making it Europe's most valuable company in 2023. However, the company recently faced setbacks, including a profit warning, a change in CEO, and concerns over layoffs, which led to a drop in its share price.

Challenges such as manufacturing issues, lawsuits, and strong competition from Eli Lilly have contributed to uncertainty. Despite these obstacles, Novo Nordisk shares rebounded after Eli Lilly's obesity pill showed only modest results in late-stage trials. The company's CFO noted that raising prices in Europe will be difficult due to public budget constraints.

The rise, fall and rise again of Novo Nordisk shares

Welcome back to the show. Now, in our moment of the week, we are taking a closer look at the rise and fall of Novo Nordisk shares. The Danish pharma giant broke new ground with its semi-glutathione medication used for the treatment of type 2 diabetes and in anti-obesity as well. It became Europe's most valuable company in 2023 after its best-selling weight loss drug, Wegovy, was introduced here in the UK. That's two years after it began to sell it in the United States. Novo has become so prominent that in 2023, its home country only published a positive GDP print thanks to the pharmaceutical industry. But it's been hard for the Danish pharmaceutical to keep its leadership. About a week ago, it issued a profit warning and announced a new CEO as well. Shares dropped on Wednesday after its latest results failed to impress investors. On the same day, the outgoing CEO warned that layoffs might be unavoidable. Now, the challenging picture for the pharma giant comes amid several factors, including intense compounding issues, which have also led Novo to initiate several lawsuits. Strong competition also played a role, particularly from the U.S. firm Eli Lilly. While slowing market growth and a lack of concrete evidence of further innovation in the short term has raised doubts over its stock as well. However, it hasn't all been bad news for Novo. Investors flocked into shares on the pharma giant yesterday after an obesity pill by Eli Lilly showed only modest late stage trial results. As Novo Nordisk looks to regain its leadership status, we asked the CFO about the prospect of rising prices in Europe amid the impact from tariffs. Listen in. If we look at, generally speaking, ex-U.S. markets, I think there's rather limited history in terms of raising prices. And with significant public deficits and pressure on climate budgets, defense budgets and the like, then I believe that it will be challenging to significantly raise prices outside the U.S.

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