Novo Nordisk shares fell almost 8% on Monday, their steepest one-day decline since February, after a capital markets presentation failed to reassure investors about the company’s drug pipeline. CEO Mike Doustdar said Novo is exploring acquisitions, particularly in cardiovascular disease and other areas complementary to obesity treatment, after its experimental cardiovascular drug ziltivekimab failed to reduce heart-attack risk in clinical trials this year. The company aims to launch more than five blockbuster medicines by 2030 and generate over $23 billion in additional revenue by 2035, but investors viewed the targets as largely anticipated. Ozempic and Wegovy account for about 75% of revenue and face patent expirations in major markets, including the United States and Europe, in the early 2030s. Novo also expects CagriSema to be among its most successful launches next year, despite the candidate producing less weight loss than Eli Lilly’s Zepbound in comparative trials. The company has repurchased 34.17 million B shares worth DKK 9.63 billion since February under a DKK 15 billion program.