Wegovy maker warns of slower profits as rivals bite

Novo Nordisk, the maker of weight-loss drug Wegovy and diabetes medication Ozempic, warns of slower profits due to increased competition in the obesity market. The company's share price fell over 20% as it lowered its outlook and announced a new CEO. Novo Nordisk is facing challenges from rival drugs and "knock-off" versions of its products, impacting sales growth and profitability. Hindered by its late entry into the self-pay obesity market, the company is struggling to meet earlier growth predictions.