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Novo Nordisk (NOVO_B) has unexpectedly removed CEO Lars Fruergaard Jørgensen, causing investor concerns about the company's future amid rising competition in the obesity market.

Novo Nordisk's performance is contributing to Denmark's first quarterly economic contraction in over two years, with a projected negative impact on GDP growth.

Noom has launched a compounded version of Novo Nordisk's Wegovy for weight loss, starting at $149 for the first month, compared to Wegovy's $349 for a 2.5 mg vial.

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About NOVO NORDISK B A/S

Novo Nordisk A/S is a global healthcare company, which engages in the discovery, development, manufacturing and marketing of pharmaceutical products. It operates through the Diabetes and Obesity Care, and Rare Disease segments. The Diabetes and Obesity Care segment includes diabetes, obesity, cardiovascular, and emerging therapy areas. The Rare Disease segment refers to rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company was founded by Harald Pedersen and Thorvald Pedersen in 1923 is headquartered in Bagsværd, Denmark.