Novo Nordisk's share price has slimmed down after rival diabetes and weight-loss treatments hit the market

Novo Nordisk's share price has slimmed down after rival diabetes and weight-loss treatments hit the market

 Armend NIMANI

Danish drugmaker Novo Nordisk, known for its blockbuster diabetes and weight-loss treatments Ozempic and Wegovy, cut its annual sales forecast on Wednesday, citing a decline in its US market share.

Novo Nordisk blamed the revised outlook on competition from copycat versions of its popular GLP-1 injections made in US pharmacies -- a practice known as compounding.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.