Novo Nordisk stock rises on Wegovy approval in China

Shares of Novo Nordisk (NVO) are soaring to an all-time high after its popular GLP-1 weight-loss drug, Wegovy, was approved in China.

Yahoo Finance's Anjalee Khemlani reports more on the story and the weight-loss drug market in China.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Melanie Riehl

Video transcript

Moving on to Novo Nodes.

Let's check out that stock soaring all time high today after its popular weight loss drug Wago was approved in China.

Yahoo finances Angelique KLA has been tracking the news and joins us now.

And that's right.

Of course we know China, the biggest market for any drug company and no, no different here for Nova nodes, the company is on the news that would go was approved, which opens it up to the private market in China.

Uh, no news on what the price will be over there, but we already know Ozempic has already been approved.

Now this win could be short lived.

That's the only downside to the news, which is that, uh, they already have a patent fight going on se semi glue tide is going to expire in 2026 protections there in China, which is much earlier than the rest of the world.

So China is already gearing up for competition for these two drugs.

And so while it is good news, Novo does have a handle on the manufacturing and does have a head start.

It is also looking to face competition much earlier in that country and so that would be generic competition.

Then, once that expires, that's really interesting.

How does China sort of get away with those shorter?

Just because they can?

Because they can, because it's a It's a market that you have to play with the government, right?

It's different than in other countries where you do.

Still, you know, there are, of course, other countries we know, especially in Europe, where you do interact a lot more with the government.

But it's not the same as in China, which is a little bit more controlled as we know.

So, yeah, thanks a lot, I appreciate it.