Why Novo Nordisk Stock Is Sinking Today
Shares of Novo Nordisk (NYSE: NVO) are tumbling on Monday, down 5.6% as of 2:11 p.m. ET. The drop comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both jumped 0.7%.The Danish pharmaceutical giant's stock fell after it announced it was severing ties with Hims & Hers Health, as well as releasing experimental data for an obesity drug that failed to impress investors.Novo Nordisk announced this morning that it is ending its partnership with Hims & Hers, which allowed the telehealth provider to sell Novo's blockbuster weight-loss drug, Wegovy.Continue reading
Shares of Novo Nordisk (NYSE: NVO) are tumbling on Monday, down 5.6% as of 2:11 p.m. ET. The drop comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) both jumped 0.7%.
The Danish pharmaceutical giant's stock fell after it announced it was severing ties with Hims & Hers Health, as well as releasing experimental data for an obesity drug that failed to impress investors.
Novo Nordisk announced this morning that it is ending its partnership with Hims & Hers, which allowed the telehealth provider to sell Novo's blockbuster weight-loss drug, Wegovy.
