Novo announced a new updated strategy on Monday at a Capital Market Days event in London. Part of the strategy included diversifying products offered by the company to among other things offer medication to treat liver disease and cardiovascular diseases.
The company also set a goal to develop at least five so-called 'multi blockbuster products', before 2030, which are defined as products which net more than a billion dollars a year.
It also aims to earn more than 150 billion kroner a year in sales of products which have not been launched yet by 2035.
According to analysts and investors speaking to Danish newspaper Børsen, the announcement was lacking concrete goals and they are concerned about growth in the weight loss sector.
Novo shares dropped to their lowest level since April and are now among the lowest European shares, according to Philip Jagd, head of shares at Sampension pension fund.
"Novo held a Capital Markets Day, but did not manage to convince the marget that they have the ingredients to deliver on the guidance they have announced," he said in a written comment to the Ritzau news wire.
The guidance is the company's forecast or expectation for its future finances.
"Novo's biggest issue is that the company's sale projections have worsened substantially over the last few years. Novo needs to show the market that the company can grow with the sector," Jagd said.
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