Novo outlines plan for multiple new drugs to regain market share as shares dip 8%

At a capital markets day in London, Novo executives presented a roadmap to launch more than five multi-blockbuster drugs by 2030 and target $23 billion in annual sales by 2035, aiming to offset the loss of patents on its flagship obesity and diabetes drug semaglutide.

The plan is intended to recapture market share lost to rival Eli Lilly in the obesity segment, where Novo’s share has slipped and its market value has fallen by more than two-thirds over recent years.

Despite the ambitious pipeline, investors reacted cautiously, with Novo’s shares dropping about 8 % in early trading after the presentation, reflecting doubts about the near-term impact of upcoming launches such as the next-generation obesity injection CagriSema.

The company’s previous success with liraglutide (Saxenda) set a high bar, and analysts will watch whether the new candidates can deliver comparable growth.