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magazineNovo Nordisk shares continue to soar on strong demand for its weight-loss drugs
Shares in Danish diabetes specialist Novo Nordisk (NVO:NYSE) have been on a tear over the past 12 months, rising more than 83%
in value.
Novo has been riding the crest of a wave as demand for its highly effective diabetes and weight-loss drugs has sent its earnings and share price to record highs.
Its weight-loss drug Wegovy launched in the UK this week (3 September) despite the company struggling to keep up with demand. The drug maker said its weekly injection would be made available through a ‘controlled and limited launch’.
Wegovy has been shown to reduce bodyweight by around 15% in trials and is available in the US, Denmark, Norway and Germany.
Although the NHS will probably negotiate discounts, the list price varies from £73 to £176 per month while in the US it costs as much as $1,350. UK online pharmacy chain Simple told Reuters it would charge private patients between £199 and £299 for a month’s supply.
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Feature
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- Analyst forecasts big increase in profits at Entain and Flutter Entertainment
- Novo Nordisk shares continue to soar on strong demand for its weight-loss drugs
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- Walgreens’ shares droop as CEO Brewer steps down
