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Novo Nordisk (NVO) Plunges 7.63% Amid Eli Lilly's Weight-Loss Drug Success
Generated by AI AgentAinvest Movers Radar
Thursday, Apr 17, 2025 6:21 pm ET1min read
Novo Nordisk's (NVO) stock price plummeted 7.63% today, marking its third consecutive day of decline, with a cumulative drop of 12.08% over the past three days. The share price fell to its lowest level since March 2020, with an intraday decline of 8.91%.
Novo Nordisk's stock has been under pressure due to recent developments involving its rival,
. The U.S.-listed shares of experienced significant declines following positive news regarding Eli Lilly's oral weight-loss drug. Eli Lilly's success in the weight-loss market has been a notable factor contributing to the decline in Novo Nordisk's stock, as the two companies are considered major competitors in this sector.Additionally, BMO downgraded Novo Nordisk, which further contributed to the decrease in its stock price. The downgrade reflects concerns about Novo Nordisk's competitive position in the weight-loss market, where Eli Lilly's advancements have gained significant attention and market share.
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