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

Ginkgo Bioworks has announced the completion of the pilot phase of its partnership with Novo Nordisk. The partnership was previously announced and is now moving into its next phase.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 11:04 am

The weight-loss drug Ozempic, popularized in the U.S. by celebrities, is being eyed with concern in the U.K. due to its off-label use and potential side effects. The surge in Ozempic’s popularity in the U.S. has led to shortages and raised concerns about its off-label use for weight loss. The U.S. FDA has stated that any use of Ozempic outside of diabetes treatment would be considered ‘off-label’ use, a situation that could potentially replicate in the U.K.

Portfolio Pulse from Benzinga Newsbot

July 11, 2023 | 2:49 am

Meta's Threads app has reached 100 million users in five days, making it the fastest-growing consumer application in history. Nanobiotix has entered a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica, a unit of Johnson & Johnson, for the investigational radioenhancer NBTXR3. GSK's Arexvy vaccine for respiratory syncytial virus has been approved in the UK for older adults. BT Group's CEO Philip Jansen is stepping down within the next 12 months. Foxconn has withdrawn from a $19.5 billion semiconductor joint venture with Vedanta, impacting India's chipmaking plans. General Motors has reduced the starting price for the Cadillac Lyriq by 14% in China. SVB Financial Group is suing the U.S. Federal Deposit Insurance Corporation to recover $1.93 billion. Saudi National Bank's plan to increase its stake in UBS Group's Credit Suisse has been halted by Swiss regulator FINMA. Godrej Aerospace is planning to invest in General Electric's GE414 engine manufacturing operations. Carl Icahn has revised loan agreements and recovery strategy after a short-seller attack led to a 40% drop in Icahn Enterprises' shares. Novo Nordisk's weight-loss medications are under European investigation over suicidal risks. Alibaba's Youku is airing a series focusing on China's semiconductor leadership.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 2:30 pm

The European Medicines Agency is investigating Novo Nordisk's weight-loss medications, including Saxenda, Ozempic, and Wegovy, due to reports of suicidal risks. The investigation was initiated after the Icelandic Medicines Agency reported two cases of suicidal thoughts linked to these drugs. Despite the investigation, Novo Nordisk's shares are slightly up.

Portfolio Pulse from Vandana Singh

July 10, 2023 | 1:54 pm

The U.S. consumer price index (CPI) inflation report for June is set to be released on Wednesday. Economists anticipate the annual U.S. headline inflation rate to drop from 4% to 3.1%, marking the 12th consecutive month of declines. The core CPI is expected to decline from 5.3% to 5%. The market remains uncertain about the possibility of two rate hikes this year. Previous CPI readings have impacted various stocks and ETFs.

Portfolio Pulse from Piero Cingari

July 10, 2023 | 1:36 pm

The European Medicines Agency (EMA) is investigating Novo Nordisk's weight-loss drugs, Saxenda and Ozempic, due to reports of suicidal risks. The probe was initiated following concerns raised in connection with Saxenda.

Portfolio Pulse from Charles Gross

July 10, 2023 | 10:43 am

TikTok plans to launch a new music streaming service in Brazil and Indonesia, posing a threat to Spotify. Cronos Group is considering a potential sale after attracting acquisition interest. DISH Network is considering merging with EchoStar Corp. Novo Nordisk has filed lawsuits against pharmacies for illegally selling products containing semaglutide. Alibaba's stock is trading higher amid reports of China looking to end its regulatory overhaul on Ant Group. Starbucks is being sued by the National Labor Relations Board for illegal termination. ChatGPT's website traffic and app downloads have declined. Zoom Video is planning to double its technology investments in the Asia-Pacific region. Broadcom is considering a major investment in Spain's semiconductor sector. Airbus delivered 72 airplanes to 48 customers in June. KKR is acquiring a majority stake in PangeaCo. Tesla is laying off some battery production workers at its Shanghai plant. LVMH-backed firm is considering an IPO of Birkenstock in the US market.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 1:31 pm

Novo Nordisk's weight-loss drug Wegovy has been successful but has side effects like severe nausea, leading to discontinuation by many users. This has sparked interest from investors and biotech companies to develop alternative weight-loss drugs with fewer side effects. Companies like Rivus Pharmaceuticals, Glyscend Therapeutics, and Antag Therapeutics are developing such alternatives. Major pharmaceutical companies like Novo Nordisk and Eli Lilly are also working on second-generation weight-loss drugs.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 11:06 am

Novo Nordisk has filed lawsuits against TruLife Pharmacy, Brooksville Pharmaceuticals, and WellHealth Inc, accusing them of illegally selling products containing semaglutide, an active ingredient in Novo Nordisk's weight loss and diabetes drugs. The company argues that these actions create an unfair competitive advantage and jeopardize patient safety. The global weight-loss therapies market is expected to reach $100 billion in the next decade, with Novo Nordisk and Eli Lilly as the primary beneficiaries.

Portfolio Pulse from Vandana Singh

July 07, 2023 | 11:03 am

Novo Nordisk, a Danish multinational pharmaceutical company, has reportedly purchased over 450,000 meals and snacks for prescribers to promote its drugs, including Ozempic. The company's marketing strategy is under scrutiny.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 2:05 pm

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