Eli Lilly and
Novo Nordisk shares dropped due to increasing competition in weight-loss drugs, and despite their stocks performing profitably over the last twenty years.
Novo Nordisk stock surged due to their
weight-loss drug reducing dementia risk, according to a yearlong study. Their shares fell after an analysis found that a drug by Eli Lilly leads to better weight loss. Obesity drug-focused stocks have tumbled including Novo Nordisk, Eli Lilly, Viking Therapeutics, and Structure Therapeutics. The shares of Novo Nordisk traded up 1.3%, despite
market gains. The company's
Wegovy was approved in China. An investment of $1,000 in Novo Nordisk stock five years ago would have substantially grown by now. There are warnings of pricing pressure for Wegovy.
Novo Nordisk is hopeful for future growth, banking on Ozempic and Wegovy as major growth drivers.
The Zacks Analyst Blog recently featured Novo Nordisk among other companies.
Novo Nordisk Stocks News Analytics from Thu, 01 Feb 2024 08:00:00 GMT to Mon, 22 Jul 2024 01:07:27 GMT -
Rating 7
- Innovation 4
- Information 9
- Rumor -3
