Shares in Novo Nordisk fell as much as six per cent on Friday to their lowest since August 2021, extending recent losses to wipe out almost all the gains made since the drugmaker launched its blockbuster weight-loss treatment Wegovy.

Partially as a result, Novo Nordisk stock has steadily declined since last summer. Over the past year, NVO shares are down more than 57%. And since the beginning of 2025, the company’s share price has declined more than 35%. As of the time of this writing, NVO shares are down just over 20% this morning to $55.17 per share.

CEO-to-be Maziar Mike Doustdar will need to stem the company’s tumbling share price as market pressures intensify.