Novo Nordisk's shares continue to decline, dropping an additional 4.3% on the Copenhagen Stock Exchange following Donald Trump's call for lower drug prices. The Danish pharmaceutical giant has lost 1,000 billion SEK in market value over the past week. Meanwhile, AstraZeneca also sees a 3.9% drop on the Stockholm Stock Exchange as Trump gives pharmaceutical companies 60 days to reduce prices for the U.S. market.
Novo Nordisk Shares Plummet Amid Trump's Drug Price Demands
Novo Nordisk Shares Plummet Further
This week's decline in Novo Nordisk's shares deepens after Donald Trump's demand for lower drug prices.
The Danish pharmaceutical giant continues to fall, down an additional 4.3% on the Copenhagen Stock Exchange. Earlier this week, the stock also fell following a lowered profit forecast. Over the past week, Novo Nordisk has lost 1,000 billion SEK in market value, reports Dagens industri.
With today's drop, Novo Nordisk's market value falls to just over 2,000 billion SEK, making it now smaller than its sector peer AstraZeneca, according to Bloomberg. Novo Nordisk was previously Europe's highest-valued listed company but has faced tough market conditions earlier this year.
AstraZeneca is also down today, dropping 3.9% on the Stockholm Stock Exchange. This follows U.S. President Donald Trump's post on his social media platform Truth Social, stating that pharmaceutical companies have 60 days to lower prices for the American market.