Novo Nordisk stock gets drilled on pipeline concerns— its CEO sees this as the main problem

Novo Nordisk (NVO) shares are slimming down. Shares of the Wegovy maker tanked more than 5% on Monday as the company failed to impress Wall Street at its capital markets day. The company came up short by not sharing more specifics around near-term growth targets amid fierce competition in the weight loss drug market. The company said it's targeting more than $23 billion in pipeline sales by 2035. It has plans to launch more than five potential multi-blockbusters by the end of the decade. (NVO ) Go deeper with AlphaSpace 43.24 +0.05 (+0.12%) At close: September 18 at 4:04:12 PM EDT "We have a situation where competition, as we are seeing it, has never been at least in Novo's historical back.