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

106.10

Mkt cap

486B

Volume

High

107.73

P/E Ratio

36.73

52-wk high

148.15

Low

105.59

Div yield

0.01

52-wk low

94.73

Novo Nordisk has announced positive results from the phase 3 STEP HFpEF trial of once-weekly semaglutide 2.4 mg in adults with heart failure. The findings show a significant improvement in patient-reported symptoms and physical limitations of HFpEF. The treatment also led to a 13.3% reduction in body weight and increased walking distance. The ongoing STEP HFpEF-DM trial is expected to be completed in Q4 2023, and subject to positive outcomes, Novo Nordisk expects to file for approval of the Wegovy label update in the U.S. and EU in 1H of 2024.

Portfolio Pulse from Vandana Singh

August 25, 2023 | 12:00 pm

Novo Nordisk's CEO, Lars Fruergaard Jorgensen, announced plans to collaborate with European healthcare systems to improve access to its weight-loss drug, Wegovy, for less fortunate and more obese individuals. The company aims to seek reimbursement for patients with the highest BMI and those less fortunate from a socio-economic point of view. Wegovy leads to an average weight loss of around 15% when used alongside dietary and exercise changes.

Portfolio Pulse from Benzinga Neuro

August 25, 2023 | 11:24 am

Novo Nordisk's CEO expressed confidence in Catalent's ability to resolve production issues related to Wegovy, a drug produced by Novo Nordisk.

Portfolio Pulse from Charles Gross

August 25, 2023 | 9:45 am

Novo Nordisk announced positive results from the phase 3 STEP HFpEF trial of semaglutide 2.4 mg, showing significant reductions in heart failure-related symptoms and physical limitations, as well as weight loss in adults with heart failure with preserved ejection fraction (HFpEF) and obesity. The findings were presented at the European Society of Cardiology Congress and published in the New England Journal of Medicine.

Portfolio Pulse from Charles Gross

August 25, 2023 | 9:26 am

Novo Nordisk's CEO has stated that the company is seeking reimbursement deals with European governments for its weight-loss drug, Wegovy. The demand for Wegovy is so strong that different commercial strategies are needed to reach the most needy patients.

Portfolio Pulse from Charles Gross

August 25, 2023 | 9:21 am

Novo Nordisk's semaglutide drugs, Wegovy and Ozempic, may unlock three potential new markets, potentially boosting the company's fortunes. The drugs could be used to treat cardiovascular disease, metabolic dysfunction-associated steatohepatitis (MASH), and addiction disorders. The cardiovascular disease market is valued at over $162 billion, and the addiction disorders market is anticipated to be worth over $60 billion by 2029.

Portfolio Pulse from Benzinga Neuro

August 25, 2023 | 7:08 am

A significant bearish stance has been taken on Novo Nordisk (NYSE:NVO) as indicated by unusual options activity. The sentiment among big-money traders is split between 36% bullish and 63% bearish. Whales have been targeting a price range from $190.0 to $250.0 for Novo Nordisk over the last 3 months. The current price of NVO is down -1.09% at $187.96.

Portfolio Pulse from Benzinga Insights

August 24, 2023 | 2:32 pm

Novo Nordisk has reportedly added Thermo Fisher as a second manufacturer for Wegovy, leading to a rise in Novo Nordisk's shares.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 6:14 pm

New York City's stricter short-term rental regulations have led to a decline in Airbnb listings. Meta Platforms faces scrutiny for allegedly allowing the sale of recalled items on Facebook Marketplace. Mallinckrodt is filing for bankruptcy for the second time due to business declines and lawsuits related to the U.S. opioid epidemic. Apellis Pharmaceuticals released an update on its Syfovre treatment for geographic atrophy. Netflix has seen an increase in U.S. users following a crackdown on password sharing. AT&T has entered the wireless home internet space with Internet Air. Novo Nordisk has enlisted Thermo Fisher Scientific to help with production of its weight-loss drug, Wegovy. Peloton, Analog Devices, Grab Holdings, Abercrombie & Fitch, Advance Auto Parts, Foot Locker, and Kohl's have all released their latest earnings reports.

Portfolio Pulse from Vandana Singh

August 23, 2023 | 2:46 pm

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%.

Portfolio Pulse from Vandana Singh

August 23, 2023 | 1:37 pm

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