Novo, which recently changed its name from Novo Nordisk, is listed on the Copenhagen Stock Exchange. The share is down more than 5 percent at 10:30.
The stock market drop comes after the company, which is behind the obesity drugs Ozempic and Wegovy, presented new goals in connection with its capital markets day.
By 2030, Novo will have launched five new blockbuster drugs that will be able to treat several different diseases, so-called "multi-blockbusters".
The stock has fallen just over 17 percent since the turn of the year.
