Streetbeat News

NVO

Novo Nordisk A/S

https://www.novonordisk.com

Industry

Biotechnology

Novo Nordisk A/S, a healthcare company, engages in the research, development, manufacture, and marketing of pharmaceutical products worldwide. It operates in two segments, Diabetes and Obesity care, and Biopharm. The Diabetes and Obesity care segment provides products in the areas of insulins, GLP-1 and related delivery systems, oral antidiabetic products, obesity, and other chronic diseases. The Biopharmaceuticals segment offers products in the areas of haemophilia, growth disorders, and hormone replacement therapy. The company collaboration agreements with Gilead Sciences, Inc. Novo Nordisk A/S also has a research collaboration with Lumen Bioscience, Inc. to explore strategies for delivering oral biologics for cardiometabolic disease. The company was founded in 1923 and is headquartered in Bagsvaerd, Denmark.

Open

101.67

Mkt cap

459B

Volume

7.8M

High

102.34

P/E Ratio

33.91

52-wk high

148.15

Low

100.32

Div yield

0.01

52-wk low

94.73

Novo Nordisk Inc. (NYSE:NVO) stock has risen by 11.06% over the past month and 59.68% over the past year. Currently trading at $108.78, its P/E ratio of 44.34 is higher than the Pharmaceuticals industry average of 39.9, which may suggest optimism about future performance or potential overvaluation.

Portfolio Pulse from Benzinga Insights

January 11, 2024 | 1:15 pm

Ginkgo Bioworks Holdings Inc (NYSE:DNA) reported preliminary FY23 sales of $250-$260 million, aligning with consensus estimates. The company expects cell engineering and biosecurity revenue to be within guidance ranges and anticipates adding 80-85 new Cell Programs in 2023. William Blair views Ginkgo's update positively, despite a reduced full-year program target. Ginkgo completed collaborations with Novo Nordisk (NYSE:NVO) and Biogen Inc (NASDAQ:BIIB), and its cell engineering revenue from biopharma clients grew over 50% in 2023. The company ended the year with $950 million in cash and equivalents. However, concerns about growth feasibility and financial robustness persist, leading William Blair to maintain a Market Perform rating. DNA shares dropped 5.30% to $1.43.

Portfolio Pulse from Vandana Singh

January 10, 2024 | 7:29 pm

Novo Nordisk CEO Lars Fruergaard Jorgensen expressed optimism about the prolonged patient adherence to the obesity drug Wegovy at the JPMorgan Healthcare conference. He cited data showing a 40% adherence rate after a year, surpassing older medications. Novo Nordisk and Eli Lilly are leaders in the weight loss drug market, which could be worth $100 billion by 2030. Jorgensen welcomed competition and mentioned the approval of Eli Lilly's Zepbound. Novo Nordisk is also exploring oral treatments, with a once-daily weight-loss pill showing promise in trials. NVO shares saw a slight increase in premarket trading.

Portfolio Pulse from Vandana Singh

January 10, 2024 | 11:43 am

Novo Nordisk CEO states that the main challenge for the company is not competition but increasing awareness of obesity as a chronic disease. The CEO welcomes competition in the obesity treatment market as it helps to drive and unlock the market's potential.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:07 pm

Novo Nordisk's CEO predicts a 'significantly higher stay time' for patients using Wegovy for obesity treatment, indicating increased duration of use compared to current treatments.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:04 pm

Novo Nordisk's CEO anticipates a substantial increase in WEGOVY volumes in 2024. This expectation is based on the company's confidence in the product's market demand and potential growth. WEGOVY is a medication designed for weight management, and its increased volumes could signal a positive outlook for Novo Nordisk's revenue and market share in the weight management sector.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:54 pm

Pfizer Inc's CEO Albert Bourla confirmed at the JP Morgan Healthcare Conference the company's commitment to the obesity drug market despite a previous candidate's failure due to side effects. Competitors Eli Lilly and Novo Nordisk are already established in this market with their GLP-1 agonist drugs. The obesity drug sector is projected to reach $100 billion by the end of the decade. Pfizer is looking for licensing deals or early-stage medications rather than acquiring a late-stage treatment. Pfizer's danuglipron showed significant weight loss but had high dropout rates due to side effects. Pfizer also revised its 2024 sales forecast down by up to $5 billion, and its RSV vaccine Abrysvo is underperforming compared to GSK's rival vaccine. Pfizer's stock was up 0.61% in premarket trading.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 12:42 pm

A Deutsche Bank survey indicates that patients using Novo Nordisk's weight loss medication Ozempic may increase their caloric intake after stopping the treatment. The survey included 600 U.S. consumers, with 70% being users of GLP-1 drugs like Ozempic or Wegovy. Novo Nordisk's Wegovy shows high adherence rates and effectiveness, leading to increased demand and a €2 billion investment in a new manufacturing facility in Dublin. The growing demand for GLP-1 drugs is seen as an investment opportunity, with Jim Cramer highlighting the potential of weight-loss drugs.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 3:14 am

Novo Nordisk A/S (NYSE:NVO) released topline results from the COMBINE 3 phase 3a trial of IcoSema, a combination of insulin icodec and semaglutide. The trial met its primary endpoint, showing non-inferiority in HbA1c reduction compared to insulin glargine U100 and insulin aspart. IcoSema also resulted in superior weight loss and lower rates of severe hypoglycemia. The safety profile was consistent with the GLP-1 receptor agonist class, with most adverse events being mild to moderate gastrointestinal issues. NVO shares saw a slight decrease of 0.05% to $105.90.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 4:11 pm

A U.S. study found that Novo Nordisk's drugs Ozempic and Wegovy do not increase the risk of suicidal thoughts. Contrary to prior concerns, the study showed a lower incidence of such thoughts among users compared to other treatments. The study, funded by the U.S. National Institutes of Health and published in 'Nature,' analyzed data from over 1.8 million patients. Semaglutide, the active ingredient in both drugs, was linked to a significantly lower risk of suicidal ideations. Novo Nordisk's stock (NVO) was down 0.60% at $106.99 on the last check Friday.

Portfolio Pulse from Vandana Singh

January 05, 2024 | 3:41 pm

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