Novo Nordisk shares slide as JPM predicts soft Q3 results
** Shares in Novo Nordisk NOVOb.CO fall 3%, with two analysts pointing to J.P.Morgan's Q3 preview note that predicted the Danish drugmaker's results would fall short of consensus
** JPM expects Novo's Q3 sales to grow 20% yoy to DKK 70.57 bln ($10.54 bln) driven by its GLP-1 obesity drug franchise, but miss current Bloomberg consensus by 5%
** The broker says its sales forecasts for Wegovy and Ozempic are 9% and 7% below consensus respectively, due to a more gradual supply ramp-up and lower net prices of the drugs
** But JPM says the potential share price weakness related to the results can create a buying opportunity, with new trial data on Wegovy, Rybelsus and CagriSema set to act as new catalysts in Q4
** Novo Nordisk will report Q3 results on Nov. 6
($1 = 6.6947 Danish crowns)
Reporting by Anna Chaberska
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