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Novo Nordisk Stock Plunges as U.S. Problems Cloud Outlook

Novo Nordisk (NVO) stock plunged on Friday after the pharmaceuticals company cut guidance for full-year sales growth and took the ax to forecasts for long-term earnings.

The Danish group topped expectations for earnings in the first nine months of the year but management said that a tough competitive environment in the U.S. meant that it would no longer be able to live up to pledges for future growth.

Novo's stock fell by as much as 20% shortly after the opening bell in Europe, to reach a three-year low...


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