Despite the current downward trend of Novo Nordisk, it is an excellent stock to buy for long-term gains, driven by the stellar performance of its GLP-1 drugs.
Novo Nordisk fell more than 4% on Friday to their lowest level since Aug. 10 after the Danish drugmaker reported results from a Phase 2a trial of its experimental obesity pill monlunabant that came in below market expectations.
The blockbuster drug strengthens its case that obesity drugs have health benefits beyond weight-loss.
The European Medicines Agency backed the use of Novo Nordisk's Wegovy in patients with an obesity-related heart condition, the Danish drugmaker said on Thursday.
Novo Nordisk A/S's shares have stalled recently, but this looks like a natural digestion of gains from prior years. Supply constraints for the obesity business are easing, and we should see growth pick up in the second half of the year and more so in 2025. Oral amycretin candidate data look good, with no new safety and tolerability signals.
Novo Nordisk's weight-loss drugs, Ozempic and Wegovy, have multiple positive catalysts, making NVO stock attractive for medium-to-long term investors. Insurance coverage for Ozempic and Wegovy may be rising significantly. Medicare and Medicaid are covering a significant number of the prescriptions of these drugs, with Medicaid covering Wegovy in 20 states.
Danish drugmaker Novo Nordisk expects its diabetes drug Ozempic will "very likely" be on the U.S. government's 2027 list of price negotiations, Bloomberg News reported on Tuesday citing a company executive.
Jared Holz, Mizuho, joins 'Fast Money' to talk how possible Medicare price negotiations are impacting Novo Nordisk shares.
Novo Nordisk (NVO) reachead $136.66 at the closing of the latest trading day, reflecting a +1.06% change compared to its last close.
Stocks of LLY, VKTX and GPCR, which make oral pills for obesity, rose on Wednesday in response to Novo Nordisk's positive data.
NVO stock gains 4.2% after it presents efficacy data superior to Wegovy for its new oral pill, amycretin, in an early-stage study.
Novo Nordisk stock rose moderately Wednesday after the pharma giant said its new weight-loss drug, amycretin, outperformed Wegovy.