Novo shares on track for biggest monthly fall since 2002, investor worries grow

LONDON (Reuters) -Novo Nordisk shares have fallen 25% so far in March and are on track for their biggest monthly drop since July 2002, as investor worries intensify that the obesity drug market pioneer has lost its edge over U.S. rival Eli Lilly. Novo came under pressure last year to prove it could keep its advantage in the lucrative obesity market after U.S. rival Lilly launched its own injection Zepbound, which led in clinical trials to greater weight loss than Wegovy. That has not happened, say investors and analysts observing rapidly worsening market sentiment toward Novo, despite the fact that Wegovy sales more than doubled in the fourth quarter of last year.