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.The stock rose as much as 6.9% in Copenhagen as investors looked past a trimmed financial forecast from the Danish drugmaker.

Drugmaker Novo Nordisk expects Wegovy weight-loss drug sales in the United States to start to recover once a ban on compound copycats is enforced this month, its CEO said on Wednesday after the company cut its 2025 forecasts.

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.