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, the Danish drugmaker warned on Wednesday.

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, valued at $650 billion in June last year, has shed over two-thirds of its value since. Its latest market cap is around $212 billion. (Reporting by Maggie Fick and Jacob Gronholt-Pedersen; Editing by Adam Jourdan and Nick Zieminski)