Novo Nordisk A/S surged on expectations that some competition for its blockbuster obesity shot Wegovy will subside, paving the way for a sales rebound later this year.

Pedersen and Maggie Fick COPENHAGEN/LONDON (Reuters) -Obesity drugmaker Novo Nordisk cut its sales forecasts on Wednesday for the first time since the launch of its Wegovy weight-loss drug four years ago,

U.S.-listed shares of Novo Nordisk are jumping in premarket trading Wednesday even as the Danish pharmaceutical giant lowered its full-year outlook.