00:00 Speaker A
shares in Novo, Novo Nordisk, of course, falling and pretty sharply as you can see after announcing it aims to deliver more than 150 billion Danish Krona, that’s about 23 billion dollars in pipeline sales in 2035. Novo is holding its capital markets day at a pivotal time for the drug maker. Bloomberg’s Sanne Wass joins us now. Sanne, investors clearly not happy with what they’ve heard so far.
00:27 Sanne Wass
Yeah, I mean, this new strategy this strategy that Novo has launched today, it has been highly anticipated by investors. They have been wait waiting for reassurance as to what Novo Nordisk plans to do for the long term to to stay relevant and and to beat off competitors. Um, and um so Novo presented the plan today. Uh one of the things we’re looking for is really, um, how it it really plans to, you know, replace Wegovy and Ozempic or what will drive growth once the patents for those drugs start to run out at the beginning of the next decade. And and um the investors were clearly not happy with the answers that that they got. And and I think that’s very much to do with the fact that there were very a lot of broad visions and and statements about directions today, but investors, they were lacking um some some concrete um ways in which Novo uh wants to get there uh and and the the specific targets that it it did give um clearly failed to impress. But remember, it’s only just launched this new strategy, the capital market’s Day is ongoing. So we’re still going to kind of see what what the um executives are going to say today and I believe that the shares have already recovered a little bit from from the fall this morning.
01:48 Speaker A
Yeah, that’s true. They they fell pretty sharply. They’re now down 4.2%, but the drop was was larger. Um what else uh Sanne has has kind of stood out to you and you make the valid point. We’re early days in terms of this capital markets Day for Novo. So there’s going to be a lot more that comes out. What what else has stood out to you so far today and what else are you going to be watching for?
02:22 Sanne Wass
Yeah, I think, uh, I mean, Mike Duster, he’s just uh, spoken at at the event and and he talked about a whole range of things. I I think one area that stood out to me was was that Novo Nordisk wants to um diversify its company. Um and uh it it’s still a little bit unclear exactly in in which areas, but it wants to broaden the scopes from targeting just patients to to a broader kind of consumer segment. Um and it it will do so by launching some of the pipeline drugs that it has, but but also it is looking for uh M&A, um, and and uh it will be looking for for deals. And and I think those are some of the news where we’re getting directions today, but we’ll have to wait and see how that plays out. And and and perhaps that’s that’s where we’ll actually get some more concrete news on on the steps of how Novo will get to those goals.
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