Shares in Novo Nordisk fell as much as 6% on Friday before recovering some ground later in the session, extending recent losses that threaten to wipe out all the gains since the drugmaker launched its blockbuster weight-loss treatment Wegovy four years ago.

The pharma giant cut its guidance and named a new CEO, hoping to revive growth. Its stock fell as much as 30%, wiping almost $93 billion from its market value.