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NVO Jul 2024 105.000 put
- Yahoo Finance Video
Can GLP-1 weight-loss drug manufacturers keep momentum up?
As GLP-1 weight-loss drugs have boosted several healthcare stocks, Jennison Associates Head of Global Equity Mark Baribeau joins Market Domination Overtime to discuss whether these companies can keep up the momentum. Baribeau points to Novo Nordisk (NVO) and Eli Lilly (LLY) as companies seeing major revenue growth and likely to split the market. He sees weight-loss and type 2 diabetes drugs as a "paradigm shift" that present huge opportunities for both companies. However, he notes that while consumer demand for these drugs is skyrocketing, Novo Nordisk and Eli Lilly "don't have the manufacturing capacity to keep up with demand. So the gating factor here is really supply. It's not demand." He adds that as manufacturing capacities expand, growth will accelerate, making the industry's backdrop look "very, very healthy." For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Melanie Riehl
- Investing.com
Shares in Wegovy-maker Novo Nordisk climb, touching record high levels
Investing.com -- Copenhagen-listed shares in Novo Nordisk (CSE:NOVOb) edged up by 3.8% on Thursday, touching a fresh record high.
- Reuters
Novo Nordisk braces for generic challenge to Ozempic, Wegovy in China
SHANGHAI (Reuters) -Novo Nordisk is facing the prospect of intensifying competition in the promising Chinese market where drugmakers are developing at least 15 generic versions of its diabetes drug Ozempic and weight loss treatment Wegovy, clinical trial records showed. The Danish drugmaker has high hopes that demand for its blockbuster drugs will surge in China, which is estimated to have the world's highest number of people who are overweight or obese. Ozempic won approval from China in 2021 and Novo Nordisk saw sales of the drug in the greater China region double to 4.8 billion Danish Krone ($698 million) last year.
