The European Patent Office (EPO) revoked a key patent protecting Novo Nordisk’s blockbuster drugs Ozempic and Wegovy. The ruling could allow generic manufacturers to enter the market several years earlier than expected. Entry could come as soon as 2031. The previous expectation was 2037.
Citigroup lowered its price target for Novo Nordisk from 310 DKK to 296 DKK. The bank cited rising research and development costs, which it expects to keep profit margins stable through 2030.
Novo Nordisk is also facing lawsuits in the U.S. from individuals who claim its GLP-1 medications caused vision loss and eye damage. The company said the suits lack merit.