Novo Nordisk A/S surged on expectations that some competition for its blockbuster obesity shot Wegovy will subside, paving the way for a sales rebound later this year.

Pedersen and Maggie Fick COPENHAGEN/LONDON (Reuters) -Obesity drugmaker Novo Nordisk cut its sales forecasts on Wednesday for the first time since the launch of its Wegovy weight-loss drug four years ago,

Investors are worried Novo Nordisk's competition with Eli Lilly is heating up and that the first-to-market GLP-1 leader is losing ground.