3 years ago Novo was $33 a share. Today it's $136 with news of it's Wegovy fatty injection soon to be available in an oral pill form.
https://www.forbes.com/sites/roberthart/2024/03/07/novo-nordisks-new-obesity-pill-beats-wegovy-in-early-trial/?sh=b10fe7b456e1
https://www.forbes.com/sites/roberthart/2024/03/07/novo-nordisks-new-obesity-pill-beats-wegovy-in-early-trial/?sh=b10fe7b456e1
Quote:
Shares of Danish pharma giant Novo Nordisk soared to a record high on Thursday after it reported promising data on a new weight loss pill, a sign of the company's plans to cement its prime position in the burgeoning obesity drug market in the face of stiff competition from industry titans like Eli Lilly and an array of smaller biotech startups.
Quote:
Analysts believe the anti-obesity market is shaping up to be one of the most lucrative opportunities in the history of the pharmaceutical sector, potentially worth as much as $100 billion by the end of the decade and possibly much more. Novo, along with another diabetes leader, Eli Lilly, enjoy a virtual duopoly on the sector and both are working hard to fend off upstart competitors like Viking Therapeutics and cement their leading positions with a pipeline of new drugs and new formulations like pills, as well as bolstering their supply chains to address ongoing shortages.