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00:03Novo shares fell Monday after the drugmaker's new long-term goals
00:07failed to ease investor concerns about its ability to compete in the weight loss market,
00:11according to CNBC.
00:13Novo aims to launch more than five drugs with multi-blockbuster potential by 2030 and generate
00:19more than $23 billion in risk-adjusted pipeline sales by 2035.
00:24The company expects revenue growth from 2026 through 2030 to be in line with industry peers.
00:29Shares fell as much as 7 percent before pairing losses.
00:33CEO Mike Daustar said investors are focused on semaglutide losing key patent exclusivity
00:39starting next decade.
00:40Jacob Peterson, investment strategist at Danish Bank Mittelfahrt Sparekasa,
00:45told CNBC that Novo's long-term plan disappointed investors because its target
00:50for growth in line with pharmaceutical industry peers suggests slower growth
00:53than the company has historically delivered.
00:55For all things money, visit Benzinga.com.
00:58what makes me tell you now.
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