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Novo Nordisk (NVO 2.71%), the Danish drugmaker that's been riding high ever since it began putting out Ozempic and Wegovy GLP-1 injectables for treatment of diabetes and weight loss, got another shot in the arm yesterday -- one that helped the stock dodge the market downturn entirely and end the day somewhat in the green. The same news that helped Novo stock out yesterday, moreover, is today turning into solid gains as Novo Nordisk stock rises 2.5% through 11 a.m.
Trump's tariff policy is the latest uncertainty to plague the pharmaceutical sector.
Novo Nordisk is a high-quality biopharma company with a strong diabetes franchise and a booming obesity drug segment, making it an attractive growth play. Following a 50% drop from recent highs, NVO trades at a significant discount compared to historical valuations, presenting a buying opportunity. The company's diverse portfolio, including diabetes, obesity, and rare diseases, ensures robust growth and reduces reliance on any single product.
Almost unarguably, the most significant story in our time with the pharmaceutical industry is the emergence and sharp rise of GLP-1 obesity drugs. Front and center of this is Novo Nordisk (NVO 0.48%), the once-obscure Danish company that earned the first U.S. Food and Drug Administration (FDA) approval for such treatments with its Wegovy back in mid-2021.
Shares fell after Eli Lilly announced results of a new pill that could rival the weight-loss potential of the Danish giant's blockbuster shots.
In this video, I will cover recent updates regarding Novo Nordisk (NVO 0.48%). Watch the short video to learn more, consider subscribing, and click the special offer link below.
Danish drugmaker Novo Nordisk A/S (CPH: NOVO-B) lost more than 10% last week after its US rival Eli Lilly & Co (NYSE: LLY) reported encouraging Phase 3 data for its oral weight-loss treatment. Lilly's orforglipron demonstrated “statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines” in the late-stage clinical trial.
Novo Nordisk (NVO) closed the most recent trading day at $58.33, moving +0.43% from the previous trading session.
Recently, Zacks.com users have been paying close attention to Novo Nordisk (NVO). This makes it worthwhile to examine what the stock has in store.
Novo Nordisk (NVO -7.78%) stock hit an all-time high of $148.15 in June 2024, marking a remarkable fivefold surge since 2019. Yet the stock has since plummeted 61% from its peak value.