Weight-loss drugmakers' stocks jumped. Arrowhead up over 17%; Structure Therapeutics up over 6%; Novo Nordisk up 5%; Viking, Pfizer, Eli Lilly up around 2%.
Arrowhead Pharmaceuticals said Tuesday that its gene-silencing candidates helped people with obesity lose fat, very early results that could intensify the competition among biotechs to develop longer-lasting weight loss drugs.
Danish drugmaker Novo Nordisk is launching its once-daily Wegovy pill in the United States on Monday, offering doses of 1.5 milligrams and 4 mg at $149 per month for self-paying patients in an intensely competitive weight-loss drug market.
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