Drugmaker Novo Nordisk slashes Wegovy sales forecasts, blaming compounding

By

Sydney Lupkin

Novo Nordisk lowered its sales forecast for obesity drug Wegovy, citing competition from compounded versions.

Novo Nordisk's shares plunged more than 20% Tuesday, after the company cut the forecast for its flagship obesity drug.

Before the markets opened, the company announced that sales of its obesity medicine, Wegovy, are expected to grow no more than 14% this year. That's down from its prediction of up to 21% on May 7.