Novo Nordisk (NVO) offered investors an update about ongoing cost-cutting efforts as copycat weight-loss drugs weigh on sales and lawmakers push for lower prices. Yahoo Finance Senior Healthcare Reporter Anjalee Khemlani outlines the latest and shares what she learned from her interview with Novo Nordisk CFO Karsten Munk Knudsen.

Second-quarter sales of the blockbuster drug soared 67% on year, despite millions of U.S. patients using generic unbranded versions of the drug.

Novo Nordisk expects continued competition from copycat versions of its blockbuster Wegovy obesity drug this year and could face layoffs as it battles rising pressure from main U.S. rival Eli Lilly ,