80% of Wegovy Pill Users Never Took a Weight Loss Drug Before. Does This Number Change the Entire Novo Nordisk Bear Case?
Novo Nordisk could maintain this latest early-mover advantage longer than you think.
80% of Wegovy Pill Users Never Took a Weight Loss Drug Before. Does This Number Change the Entire Novo Nordisk Bear Case?
Overview
Novo Nordisk (NYSE: NVO), previously the early mover in the GLP-1 weight loss drug space, has lost its edge as competitor Eli Lilly has come to dominate the market. However, could Novo have an ace in the hole with the recently released pill-based version of its flagship weight loss drug, Wegovy?
As CEO Mike Doustdar noted in a recent interview, 80% of Wegovy pill patients are new to weight loss drugs. This suggests the company is capitalizing on patients interested in weight loss treatment but who have been hesitant to try such treatments in their injectable form.
Details
Does this change the story for the out-of-favor name among GLP-1 stocks? Let's find out.
Source
Originally published at www.fool.com.
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