Novo Nordisk A/S named its head of international operations as chief executive officer after slumping weight-loss drug sales led to a profit warning that wiped $93 billion off its market value.

Copenhagen-listed shares of Novo Nordisk plunged more than 21% on Tuesday after the Danish pharmaceutical company issued a profit warning, citing weaker-than-expected sales growth for its flagship drugs Wegovy and Ozempic in the United States.