Wegovy maker Novo Nordisk extends losses following first-quarter results

Shares of Novo Nordisk fell 2.5% on Friday following a 2.7% drop on Thursday, amid scrutiny over its first-quarter results and emerging competition in the weight loss drug market. The company's sales for its weight loss treatment Wegovy more than doubled, but analysts had anticipated even higher sales. Despite this, Novo Nordisk remains optimistic, although it faces potential market share erosion due to new competitors like Amgen, which reported positive trial results for its obesity treatment, MariTide.