Thermo Fisher shares are trading higher after Novo Nordisk reportedly hired the company as a contract manufacturer for its weight-loss drug, Wegovy.
Portfolio Pulse from Benzinga Newsdesk
Thermo Fisher Scientific Inc. (TMO) shares are trading higher after Novo Nordisk reportedly hired the company as a contract manufacturer for its weight-loss drug, Wegovy.
August 23, 2023 | 3:23 pm
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Thermo Fisher's stock is trading higher due to its new contract with Novo Nordisk for manufacturing the weight-loss drug, Wegovy.
Thermo Fisher's stock is likely to rise in the short term due to the new contract with Novo Nordisk. This partnership could potentially increase Thermo Fisher's revenues and profitability, which is generally a positive signal for investors.
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