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Novo Nordisk stakes plummet on U.S. supply challenges for obesity drug

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Novo Nordisk’s (NYSE: NVO) stock dropped 16% on Monday after the Danish drugmaker announced late Friday that it would be unable to meet demand for its new weight-loss medicine due to supply concerns in the United States.

After concerns with good manufacturing practice, the Danish drugmaker stated in a stock release after market close on Friday that a contract manufacturer filling syringes for pens with its Wegovy medicine had temporarily halted supplies and manufacturing.

Story by : Norvisi Mawunyegah