Novo Nordisk Stock Suffers After C-Suite Shakeup

Novo Nordisk A/S (NYSE:NVO) is down 3.9% to trade at $63.60 this morning, after a C-suite shakeup. CEO Lars Fruergaard Jørgensen will be stepping down, citing market challenges and increased competition. Sector peer Eli Lilly (LLY) is higher in response to the news, as is compounding pharmacist Hims & Hers Health (HIMS). The Danish drugmaker -- known for the widely popular but controversial weight-loss drug Wegovy -- is down 50% year-over-year. A confluence of moving averages have guided NVO lower all year, ...