Could This New Opportunity Be Worth Billions for Novo Nordisk?
The worst may be in the rearview mirror for the drugmaker.
Overview
Novo Nordisk (NYSE:NVO) has a problem. The company generates the lion's share of its revenue from its GLP-1 portfolio, but over the past couple of years, it has lost market share to its biggest rival, Eli Lilly (NYSE:LLY), while encountering several clinical setbacks. That's why the stock has significantly lagged broader equities. Can Novo Nordisk bounce back? If it does, it will likely be because it finds a way to better compete against Eli Lilly in the GLP-1 space. And recent developments suggest Novo Nordisk may soon make headway in an arguably underserved corner of the market. Here's what investors need to know.
Image source: The Motley Fool.
Novo Nordisk's semaglutide is the active ingredient in several of its GLP-1 therapies, including Ozempic, Wegovy, and Rybelsus. Wegovy is approved for chronic weight management for adults and pediatric patients aged 12 and older. Recently, the Denmark-based pharmaceutical giant reported results from a phase 3 clinical trial for semaglutide in patients between six and 11, more than 85% of whom had Class II or Class III obesity.
Details
Source
Originally published at www.fool.com.