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Morgan Stanley downgrades Novo Nordisk, shares fall 2.4%

Verifying
  • Morgan Stanley downgraded Novo Nordisk from Equal-weight to Underweight.
  • Shares fell approximately 2.4% during early Copenhagen trading after the downgrade.
  • Semaglutide generated 75% of Novo Nordisk’s 2026 revenue and faces patent expirations in the early-to-mid 2030s.
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