Novo Nordisk Boost from Obesity Pill Approval

28 days ago

Dan Curtis

"That's right, 7% because I don't want the listeners to be in suspense. That's how much shares of Novo Nordisk are up after that approval to sell the pill version of its blockbuster obesity shot. People will be eating plenty at Christmas because the pill won't go in until early January, just in time for those New Year's resolutions. And the big part of this announcement is that they are getting a head start over their major competitor in the space, Eli Liy. They could get approval for their own competitor pill in March. So, this is really giving Novo Nordisk a boost towards the end of the year, a year where it could see some upside. It's down 44% this year because of losing out to Eli Liy, which is up 40% this year."

Novo Nordisk stock surged 7% on approval to sell a pill version of its blockbuster obesity treatment. The new approval provides the company with an early advantage over competitor Eli Liy, which may only get its own pill approval in March, offering a near-term upside catalyst for a stock that has lagged this year.

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