For a while, Danish drugmaker
It was at the forefront of the weight-loss injection boom as people discovered that its Ozempic shot, originally developed to treat diabetes, could help trim their waistlines.
Novo took the active ingredient of Ozempic, semaglutide, and rebranded it as Wegovy to be used specifically for weight loss. Together, these blockbuster drugs made Novo the most valuable publicly listed company in Europe. At one point, its market capitalization was even bigger than the size of Denmark’s economy.
But the pharmaceutical giant has failed to keep up with runaway demand for weight-loss ...