Novo’s CagriSema Delivered 25% Weight Loss in Women. Could It Help Turn Around the Beaten-Down Stock?
In a development that happens far less often than they’d like, Novo Nordisk (NYSE:NVO) investors got a hit of positive news on Tuesday. The company, which shot to prominence as the developer of Wegovy and Ozempic but has lately struggled with intense competition and other challenges, announced very promising results from a Phase 3 clinical trial of a next-generation obesity drug in its pipeline.
Weight-loss treatments are a monster business, especially in this country. That’s the main reason why Novo Nordisk’s stock ticked higher on the news. But this is a tough market; could the new drug, if successfully developed and approved by regulators, really turn the company’s fortunes around?
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