By Dhirendra Tripathi

Investing.com – Novo Nordisk stock (NYSE:) slumped 5% in Monday’s premarket trade after the company warned of a hit to the availability of a key obesity drug in the U.S. due to issues at a supplier.

Following issues with Good Manufacturing Practices, the contract manufacturer that filled syringes to Wegovy pens in the U.S. has stopped production and delivery temporarily.

Wego proved to be a success for the company in a period when prices are high on its core insulin business. Novo Nordisk is disappointed by the development. The company was trying to launch the drug in obesity before Eli Lilly launches a competitor drug (NYSE:).

The company stated last month that it expected sales growth to be 3% lower in 2022 due to decreased insulin sales volume in China and lower prices. It doesn’t expect supply challenges to affect the previously communicated outlook for 2021.

According to the Danish company, it doesn’t expect to be in a position to satisfy demand in the U.S. during the first half 2022. It also stated that fewer patients will be available to start treatment. The company expects it to be able meet the demand in the U.S. during the second half 2022.

Novo Nordisk did not name the manufacturer, but stated that the issue was related to a European location of an international corporation. According to Reuters the parties have been in dialog and Novo Nordisk believes that the contractor has a good plan.

The full-year earnings of the company will be announced by the company on February 2.