Novo outlines $23B revenue goal, cuts 4,000 jobs and expands Wegovy manufacturing amid investor skepticism

Novo held its Capital Markets Day to detail a plan to reach $23 billion in sales by 2035. The company announced another round of layoffs, trimming its workforce by 4,000 people and leaving the headcount about 13,000 lower than a year ago.

At the same event, Novo said it will increase manufacturing capacity for its Wegovy oral pill to accommodate ten times more patients, aiming to grow its obesity franchise.

Investors reacted cautiously, with the stock falling about 8 percent after the presentation, indicating doubts that the restructuring and capacity boost will be enough to reverse recent performance.

In related industry news, Viking Therapeutics and Roche reported positive data on their weight‑loss candidates, and Ultragenyx received FDA approval for a gene‑therapy treatment for Sanfilippo syndrome. A wave of biotech IPOs also continued.