In April, Danish drugmaker Novo Nordisk formed what was supposed to be a long-term collaboration to promote its weight-loss drug Wegovy on the popular telehealth service Hims & Hers.The deal was Novo Nordisk’s bid to grab back market share from the cheaper,

Shares in Wegovy maker Novo Nordisk fell further on Wednesday as analysts warned of persistent competition from copycat drugs in the United States, a day after a profit warning and the naming of a new CEO prompted investors to wipe $70 billion off the drugmaker's value.

Novo Nordisk A/S’s best-sellers Ozempic and Wegovy transformed the firm into a global pharmaceutical giant. But four years after Wegovy’s US launch, the Danish drugmaker’s growth is slowing. About one million patients in the US are taking cheaper copycat options.