Movement Alert|Novo-Nordisk A/S Falls 3.03% in Regular Trading, Healthcare Sector Under Broad Pressure Despite China Oral Wegovy Filing Acceptance

Market Focus08-27 22:04

On August 27, Novo-Nordisk A/S declined 3.03% in regular trading, trading at $45.84/share, with turnover of $134 million.

On the news front, the broader healthcare sector faced selling pressure, with the State Street Health Care Select Sector SPDR ETF down 0.7% and the iShares Biotechnology ETF down 0.5%. While Novo Nordisk announced that China's National Medical Products Administration accepted its marketing application for oral Wegovy (semaglutide tablets) for long-term weight management, the stock continued to slide alongside the sector.

The filing marks an important step in Novo Nordisk's expansion into the Chinese obesity market with its oral formulation. However, analysts at JPMorgan recently noted that oral Wegovy's launch momentum in the US appears to be slowing, maintaining a Neutral rating while raising the target price to 275 Danish kroner. Within the Pharmacy sector, stocks broadly declined: Johnson & Johnson down 2.06%, Merck down 1.83%, Pfizer down 1.53%, Eli Lilly down 0.76%, and Jazz Pharmaceuticals down 0.52%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment