Novo Nordisk shares fall as company outlines strategy beyond Wegovy

Shares of Novo Nordisk declined after the Danish pharmaceutical company laid out its strategy for growth beyond its Wegovy weight-loss drug, according to CNBC.

The company is attempting to convince investors it can remain competitive in a market for obesity treatments that it helped pioneer but that has since become increasingly crowded, CNBC reported.

The report did not specify the size of the share decline or additional financial targets outlined by the company.