Wegovy maker Novo Nordisk cuts profit forecast as US prescriptions tail off

Slowdown will deepen concerns Denmark’s biggest company is losing market share to US rival Eli Lilly

Denmark’s Novo Nordisk has cut its annual revenue and profit forecasts after disappointingly “flabby” sales of its weight loss drug Wegovy, as US prescriptions tailed off.

A boom in sales of Wegovy and the diabetes medication Ozempic helped to turn the drugmaker into Europe’s most valuable listed company, worth $615bn (£461bn) at its peak last year.