This might surprise some, but Danish pharmaceutical giant Novo Nordisk (NVO -2.29%) has significantly lagged the market in the past year. The drugmaker's shares are down by 40% over the trailing-12-month period, despite grabbing headlines for its work in the red-hot weight management drug market.
Novo Nordisk A/S NVO has been on a tear in the weight loss drug race, but its stock is slimming down for all the wrong reasons.
There is a long-running health crisis impacting the modern world. According to the World Health Organization, one in eight people worldwide were living with obesity as of 2022.
NVO's shares are down 2% despite making Wegovy available at a discounted price of $499 per month at local pharmacies.
Novo Nordisk (NVO -2.06%) stock slipped 1.7% through 12:10 a.m. ET Monday on a pair of news items with which investors seem less than thrilled:
Despite the current downward trend of NVO, it is a good stock to add to one's portfolio for long-term gains due to strong demand for its GLP-1 drugs.
CNBC's Angelica Peebles joins 'Squawk on the Street' to discuss Eli Lilly's latest obesity pill trial.
Novo Nordisk stock dropped Monday after the drugmaker licensed a Chinese competitor's weight-loss drug for $200 million up front. The post Novo Nordisk Finds A New Way To Rival Eli Lilly.
Novo Nordisk said on Monday all eligible cash-paying customers in the United States can buy its weight-loss drug Wegovy at a discounted price of $499 per month at their local pharmacy.
China-based United Laboratories International said on Monday it will license its weight-loss drug candidate to Danish drugmaker Novo Nordisk in a deal worth up to $2 billion.
Novo Nordisk's latest trial results for its next-generation obesity drug CagriSema disappointed investors by failing to show superior outcomes to existing drugs. CagriSema, which includes a nascent form of weight loss treatment known as an amylin analog, is one of the Danish pharma's next bets on the burgeoning obesity market.
Novo Nordisk (NVO) reachead $78.79 at the closing of the latest trading day, reflecting a -0.27% change compared to its last close.