Novo Nordisk signaled openness to larger acquisitions while targeting over five multi-blockbuster drug launches by 2030, though its stock fell 8% at a Capital Markets Day. Smaller obesity biotech stocks including Viking Therapeutics, Structure Therapeutics, and Altimmune rose on the news, with their experimental weight-loss drugs showing efficacy ranging from 12.2% to 16.2%.
Novo's CEO Mike Doustdar defended the company's diversification strategy and signaled openness to M&A deals beyond obesity treatment, following investor disappointment at Monday's Capital Markets Day. The pharmaceutical giant faces mounting competition in weight-loss drugs from rivals like Eli Lilly and plans to launch five multi-blockbuster drugs by 2030 while expanding into blood disorders, liver disease, and cardiovascular areas.