Novo Nordisk's value dips as sales shrink.

Live from the UK, this is the Marketplace Morning Report from the BBC World Service.

I'm Guy Kilty, good morning.

Shares in the Danish pharmaceutical giant, Novo Nordisk,

tumbled 17% on Wednesday after the pioneer of weight loss drugs

warned of a decline in sales this year

amid increasing competition and pressure on prices.

The firm said its outlook has been hit by rival weight loss drugs

and the expiry of patents on the active ingredient in its Wagovi and Ozenpic drugs in some markets.

Novo has lost two-thirds of its stock market value since June 2024, a fall of more than

$400 billion. My colleague Leanna Byrne has been speaking to Novo Nordisk's chief financial officer,

Karsten Knootsen, and she started by asking about the challenges facing the company.

What I'm looking into in 26 is really driving volume growth.

Prices are coming down in obesity and we're accessing more self-paid patients.

And as a consequence, we really need to see patient volumes coming up.

I'm going to ask you first about the cheaper versions of somaglite.

It's going to start appearing in markets like India and China this year.

So how much of your international revenue is realistically at risk from generics over the next two to three years?

Our patent expires in India in a few months' time.

And it also does so in China.

In China, though, there are certain regulatory complications or technicalities that means

that I don't expect

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