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Novo Nordisk misses quarterly estimates

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Pharmaceutical company Novo Nordisk missed analysts' expectations for the second quarter as its Wegovy and Ozempic GLP-1 drugs faced increasing competition.

Revenue in the second quarter was roughly $11.92 billion, short of expectations of $11.97 billion.

Earnings per share came to $5.96. Analysts were looking for $6.06 per share.

Read more from Quartz.

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