Key Data On Novo Nordisk's Weight Loss Drug Wegovy Due In July: Biotech Analyst Details Likely Impact On Lilly's Stock
Portfolio Pulse from Shanthi Rexaline
Novo Nordisk (NVO) is set to announce results from the SELECT Phase 3 trial for its weight loss drug Wegovy between July 1 and August 1. The trial's outcome could impact both NVO and Eli Lilly (LLY) stocks, as Lilly has a competing product.
June 21, 2023 | 3:17 pm
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NEUTRAL IMPACT
The outcome of Novo Nordisk's SELECT Phase 3 trial for Wegovy could impact Eli Lilly's stock, as Lilly has a competing product, Mounjaro.
The trial results could affect the competitive landscape between Wegovy and Lilly's Mounjaro. Depending on the outcome, LLY stock could experience gains or losses, but the exact impact is uncertain.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Novo Nordisk's SELECT Phase 3 trial results for Wegovy could broaden the patient population and bolster US reimbursement, potentially impacting NVO stock.
The trial results could validate the benefits of Wegovy beyond weight loss, potentially broadening the patient population and increasing US reimbursement. This could positively impact NVO stock, but the exact outcome is uncertain.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100