On Monday, Novo Nordisk A/S (NYSE: NVO) opened lower and extended its decline, trading more than 8% down at the time of writing.

The drop follows the company's "Capital Markets Day" held on September 21 in London, where it pledged to launch over five blockbuster drugs in the coming years while targeting more than $23 billion in additional sales. However, that $23 billion target appears to have fallen short of market expectations, raising concerns about the company's future growth trajectory.

Adding to the pressure, the company has cut 13,000 jobs over the past year as part of ongoing cost-reduction efforts. Investors are now closely watching whether its key pipeline candidate, CagriSema, can ultimately deliver commercial value and whether Novo Nordisk can build a new growth curve to replace its maturing portfolio.

Meanwhile, in the United States, media reports indicate that dozens of patients who developed non-arteritic anterior ischemic optic neuropathy (NAION), commonly known as "eye stroke," which can cause sudden and permanent vision loss in one eye, while taking Novo Nordisk's semaglutide, have filed personal injury lawsuits against the manufacturer. Since 2025, the personal injury law firm Weitz & Luxenberg has filed more than 90 NAION-related claims in New Jersey state court on behalf of patients who developed the condition while using semaglutide, seeking compensation from Novo Nordisk.