By Sam Boughedda
Investing.com — Shares of Novo Nordisk A/S (NYSE:NVO) fell more than 7% just after midday Friday after it revealed it won't be able to meet U.S. demand for Wegovy in the first half of 2022.
Wegvoy is a prescription medicine used for adults with weight-related medical problems to help them lose weight and keep the weight off.
Novo Nordisk explained the supply issue was due to a contract manufacturer filling syringes for Wegovy pens temporarily stopping deliveries and making product following issues with good manufacturing practices.
As a result, "few new patients are expected to be able to initiate treatment."
Novo will prioritize patients who have already started treatment with Wegovy in the first half of the year, although it expects to meet demand in the U.S in the second half of 2022.
The company concluded that the supply challenges will not affect the previously announced financial outlook for 2021.