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 A/S (NYSE:NVO) is facing a shortage of its obesity drugs Wegovy and Saxenda due to increased demand. The FDA has listed Saxenda as having limited availability through the end of 2023. The European Medicines Agency has initiated a probe into Novo Nordisk's weight-loss medications amid reports of suicidal risks. Despite these challenges, NVO shares are up 3.81%.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 5:41 pm

Novo Nordisk's (NYSE:NVO) short percent of float has risen 8.33% since its last report, with 2.26 million shares sold short, which is 0.13% of all regular shares available for trading. It would take traders 1.81 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Novo Nordisk's peer group average for short interest as a percentage of float is 3.71%, which means the company has less short interest than most of its peers.

Portfolio Pulse from Benzinga Insights

July 18, 2023 | 8:15 pm

Biotechnology company Eleven Therapeutics has announced a research collaboration with global healthcare company Novo Nordisk. The collaboration aims to identify novel molecules for precise delivery of nucleic acid using Eleven's DELiveri™ platform, targeting cardiometabolic diseases.

Portfolio Pulse from Charles Gross

July 17, 2023 | 9:26 am

Novo Nordisk (NYSE:NVO) has outperformed the market over the past 5 years by 16.26% on an annualized basis, producing an average annual return of 26.15%. If an investor had bought $100 of NVO stock 5 years ago, it would be worth $323.32 today.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 8:30 pm

Hollywood studios propose using AI replicas of actors. Meta Platforms' Threads app sees a decline in engagement. Citigroup, UnitedHealth, Wells Fargo, JPMorgan Chase, and BlackRock deliver strong Q2 earnings. Nokia and Ericsson shares drop after Q2 earnings. Roivant Sciences in talks with Roche for a potential $7B drug deal. WHO labels aspartame as a possible carcinogen. Microsoft and Activision Blizzard consider UK rights divestiture to appease regulators. Nissan plans to invest in Renault's EV unit. Novo Nordisk's weight-loss drug to be launched in Germany.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 2:09 pm

Novo Nordisk's weight-loss medication, Wegovy, will be priced at €301.91 for a four-week course in Germany. The drug will be launched in Germany by the end of this month. The company has urged doctors to restrict prescriptions to medically necessary cases. Challenges in production and high demand in the US have resulted in a slower European rollout of Wegovy than anticipated. Novo Nordisk has also filed lawsuits against three pharmacies for illegally selling products claiming to contain semaglutide, the active ingredient in its weight loss and diabetes drugs.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 1:40 pm

Novo Nordisk announced that its prescription drug Wegovy will be available in German pharmacies by the end of July. The maintenance dose of 2.4 mg will cost 301.91 Euros for 4 weeks of treatment, while the starter dose of 0.25 mg will cost 171.92 Euros for 4 weeks of treatment.

Portfolio Pulse from Charles Gross

July 14, 2023 | 8:54 am

A survey conducted by U.S. Senator Elizabeth Warren's office revealed that uninsured Americans pay an average of $98 for Eli Lilly's generic insulin, despite the company's promise to reduce the price to $25 per vial. The survey also found that one-third of the pharmacies charged uninsured patients $164 or more for the insulin. This comes after Lilly, Novo Nordisk, and Sanofi announced they would reduce insulin prices by at least 70% later in the year. Among the surveyed stores, Walgreens, Walmart, Rite Aid, and CVS requested average prices of $166, $161, $89, and $39, respectively, for the insulin.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 4:31 pm

Pharmaceutical company Novo Nordisk (NYSE:NVO) is taking legal action to prevent the sale of knockoff versions of its semaglutide drugs in the U.S., citing trademark infringement and violation of state regulations against untested medications. The company argues that these knockoffs pose a risk to patient safety and provide an unfair competitive advantage. Despite warnings, some patients continue to use the knockoffs due to high drug prices.

Portfolio Pulse from Benzinga Newsbot

July 13, 2023 | 2:10 am

A significant bearish stance has been taken on Novo Nordisk (NYSE:NVO) as indicated by unusual options activity. The sentiment among these big-money traders is 70% bearish and 30% bullish. The whales have been targeting a price range from $90.0 to $185.0 for Novo Nordisk over the last 3 months. The current price of NVO is up 1.69% at $154.82.

Portfolio Pulse from Benzinga Insights

July 12, 2023 | 7:49 pm

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