Novo Nordisk A/S shares gained on expectations that competition for its blockbuster obesity shot Wegovy will subside later this year.

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, but its shares rose about 6% as the company anticipates a recovery in its biggest market in the U.

Novo Nordisk on Wednesday managed the unusual feat of seeing its stock price rise after reducing its earnings outlook. But that’s reflective of the tough times the Danish maker of Ozempic and other weight-loss drugs has had.