Novo Nordisk A/S (NVO) Stock

Novo Nordisk's team in India is urging the Danish pharmaceutical company to launch its well-known weight-loss drug Wegovy sooner. They are concerned about losing ground to competitor Eli Lilly in this potentially large market, according to two sources who spoke to Reuters.

Bagsværd, Denmark, 2 December 2024 – On 11 November 2024, Novo Nordisk started a share buyback program following Article 5 of Regulation No 596/2014 from the European Parliament and Council, as well as the Commission Delegated Regulation (EU) 2016/1052. This initiative is part of a larger plan to repurchase shares worth up to DKK 20 billion over a 12-month period starting from 6 February 2024.

Not many companies attract as much consistent interest as Novo Nordisk (NVO) does right now. The combination of a strong market and impressive growth from its GLP-1 medications has led to a significant increase in its share prices, which have almost doubled in the past three years.

Johan Hueffer, a senior partner at Novo Holdings, talks about investing in life sciences and shares his broader views on the market.

Novo Nordisk's shares fell by 22% in the last six months due to competition and supply problems. Eli Lilly's Zepbound is quickly taking market share, putting pressure on Novo's leading position in weight-loss medications. To address supply challenges, Novo is acquiring Catalent for $16.5 billion, and it is expected to receive EU antitrust approval, which will help increase Wegovy's production.

Novo Nordisk plans to share the main findings from the REDEFINE-1 trial of CagriSema in obese patients by the end of this year. The company anticipates that CagriSema will lead to a 25% reduction in weight after 68 weeks of treatment. Considering how it works and the phase 2 results in obese and type 2 diabetes patients, I also believe CagriSema could result in a weight loss of 24-27%.

A source told Reuters that Swiss medical technology firm Ypsomed has a contract with Novo Nordisk to provide injection pens for the Danish company's new experimental obesity medication, CagriSema.

In this article, I will explore whether the stocks of the two leading diet drug companies have stopped declining. I will focus on two companies: Novo Nordisk NYSE:NVO (Wegovy) and Eli Lilly NYSE:LLY (Zepbound). I also came across some news about an increase in weight-loss drug coverage among major US insurers.

Novo Nordisk's stock has been quite unstable recently, which makes it difficult to determine if this is a good time to purchase shares.