Novo Nordisk has launched its hugely popular weight-loss drug Wegovy in Thailand, an executive of the Danish drugmaker's local subsidiary said on Monday, marking the injectable drug's first entry into the Southeast Asian market.
Novo Nordisk scored a huge legal victory that largely restricts compounding pharmacies from marketing or selling cheaper, unapproved versions of the drugmaker's blockbuster weight loss drug Wegovy and diabetes treatment Ozempic. U.S. District Judge Mark Pittman denied the Outsourcing Facilities Association's bid for a preliminary injunction that would have prevented the FDA from taking action against its members for making copies of semaglutide, the active ingredient in Ozempic and Wegovy.
Plenty of stocks with attractive businesses trade on the market for hundreds of dollars per share -- or more. However, it's possible to find excellent stocks that may become undervalued when either the market undergoes a deep correction, including in a bear market, or in company-specific situations where temporary problems seem to hinder the business, muddling its longer-term outlook.
Despite the current downward trend, long-term investors may stay invested in NVO stock due to strong demand for its GLP-1 drugs.
Denmark-based pharmaceutical giant Novo Nordisk (NVO 2.66%) has been struggling during the past year. Its financial results -- though strong by comparison to most of its peers -- haven't been as good as investors expected.
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.
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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.
Among all the weight loss drugs, Ozempic has become a phenomenon. With as much as $17 billion in sales in 2024, it shows no signs of slowing down, much to the delight of its Danish manufacturer, Novo Nordisk A/S (NYSE: NVO).
Weight loss leader Novo Nordisk has had a poor performance at the stock markets year-to-date [YTD] even as the healthcare sector is among the least impacted ones. The key reason for this is disappointing results for its drug trials, though challenges like potential tariffs on Denmark, its home country, also play a part. Yet, the company's robust fundamentals, healthy outlook and attractive market multiples go in its favour, justifying a Buy rating.
Shares of Novo Nordisk, Eli Lilly, Structure Therapeutics and Viking Therapeutics gain as PFE abandons development of its obesity candidate, danuglipron, due to safety issues.