Novo targets blockbuster-heavy 2030 but share slump signals unease

Pharmaceutical company Novo presented a five-year strategy aimed at launching more than five blockbuster drugs by 2030 and achieving sales exceeding 150 billion DKK (23 billion dollars). Despite this ambition, the company's share price fell 5 percent on the day the strategy was announced. Novo is attempting to diversify its portfolio beyond semaglutide, which generated approximately 7.8 billion dollars in global sales in the second quarter. The company presented positive results from a clinical trial of its new drug CagriSema, which demonstrated superior weight loss compared to a lower dose of the competing product tirzepatide from Eli Lilly. Novo plans to have more than five Phase III clinical trial programs in obesity and diabetes by 2030. The company also invested 5.2 billion dollars in the acquisition of specialized company Akero Therapeutics and established partnerships with Anthropic and Orbis Medicines worth up to 1.4 billion dollars.