Novo Nordisk A/S (NVO) saw its stock surge 10.16% during intraday trading on Tuesday, marking one of the most significant gains for the Danish pharmaceutical giant this year. The rally followed the U.S. Food and Drug Administration's (FDA) approval of the oral version of its blockbuster weight-loss drug, Wegovy.
The FDA's approval of the Wegovy pill is a major milestone for Novo Nordisk, positioning it as the first company to bring an oral GLP-1 weight-loss treatment to market. The pill is expected to launch in early January, priced at $149 per month for starter doses, making it more accessible to patients who prefer oral medications over injections. Analysts predict the pill could generate billions in sales, helping Novo Nordisk regain market share from rival Eli Lilly.
The approval comes after a challenging year for Novo Nordisk, which has faced stiff competition and supply constraints. The company's CEO, Mike Doustdar, emphasized the convenience of the pill, stating it could help patients achieve similar weight loss results as the injectable version. Investors are optimistic about the pill's potential to revitalize Novo Nordisk's growth trajectory in the lucrative obesity-drug market.
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