One Is Not Enough For Famed Weight Loss Drug: Novo Nordisk Taps Thermo Fisher To Ramp Up Wegovy Production
Portfolio Pulse from Vandana Singh
Novo Nordisk (NVO) has enlisted Thermo Fisher Scientific (TMO) as a second contract manufacturer for its weight-loss drug, Wegovy. This move comes after production challenges at Novo Nordisk's factory in Brussels, managed by its first contract manufacturer, Catalent (CTLT). The drug's popularity in the US has prompted the company to meet the soaring demand proactively. NVO stock is up 1.54% and TMO shares are up 3.65%.
August 23, 2023 | 1:37 pm
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NEGATIVE IMPACT
Catalent, the first contract manufacturer for Wegovy, has faced production challenges.
The production challenges faced by Catalent could potentially harm its reputation and future contracts.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Novo Nordisk has enlisted a second contract manufacturer for Wegovy, indicating a proactive approach to meet soaring demand.
The enlistment of a second contract manufacturer indicates Novo Nordisk's commitment to meet the high demand for Wegovy. This could potentially lead to increased sales and revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Thermo Fisher has been enlisted by Novo Nordisk as a second contract manufacturer for Wegovy.
Being enlisted as a contract manufacturer for a popular drug like Wegovy could potentially increase Thermo Fisher's revenue.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80