Novo Nordisk's Wegovy Pill Just Hit 3 Million Prescriptions. Is Wall Street Missing Something With This Beaten-Down Stock?
Novo Nordisk has been telling investors that volume will eventually offset price cuts, and early results suggest investors should listen.
Novo Nordisk's Wegovy Pill Just Hit 3 Million Prescriptions. Is Wall Street Missing Something With This Beaten-Down Stock?
Overview
Novo Nordisk (NYSE: NVO) kicked off a revolutionary shift in how obesity is treated. The goal, at first, was to help diabetics deal with weight loss, but the opportunity to expand beyond that one illness has proven even more attractive. The biggest recent development is Novo Nordisk's introduction of a Wegovy pill, which has been very well received. Here's what you need to consider as you evaluate Novo Nordisk and the broader GLP-1 space.
Novo Nordisk's Wegovy shot was the first GLP-1 drug on the scene. There was so much demand that the company couldn't produce enough of the medication. That was a big problem for the company because it opened the door to lower-cost generic versions in the U.S. market. And when competitor Eli Lilly (NYSE: LLY) introduced its own GLP-1 drugs (Mounjaro and Zepbound) that were more effective, Novo Nordisk quickly found itself trailing in the market it had effectively created.
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Originally published at www.fool.com.
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