Morning Bid: Shedding pounds, buying dollars

Investors are eagerly anticipating the release of Novo Nordisk's weight-loss injection in British stores, while Manchester United shares plummeted after reports of the club being taken off the market; meanwhile, the dollar is strengthening, oil prices are rising, and concerns about weak demand and China's economy persist.

reuters.com

Relevant topic timeline:

8/21/2023

How soaring demand for Ozempic and Wegovy is altering Denmark's economy

The success of weight-loss drugs in the United States, particularly Novo Nordisk's Wegovy and Ozempic, has led to a surge in sales and profits, driving an influx of US dollars into Denmark's economy and boosting the value of the Danish krone. As a result, Denmark's central bank is keeping interest rates low, leading to lower mortgage rates for Danish homeowners.

8/25/2023

Weight-Loss Drug Wegovy Will Launch In More Countries Despite Ongoing Struggles Over Stellar Demand, CEO Says

Novo Nordisk plans to launch its weight-loss drug Wegovy in more countries, despite shortages caused by high demand, according to CEO Lars Fruergaard Jorgensen.

9/4/2023

Weight-loss drug Wegovy debuts in UK even as Novo Nordisk struggles with supplies

Novo Nordisk has launched its weight-loss injection, Wegovy, in the UK, following a controlled and limited launch, with a monthly supply priced between £199 and £299 for private patients through an online pharmacy chain.

9/7/2023

Novo Nordisk Stock Jumps as JPMorgan Boosts Price Target on Obesity Drug Growth Outlook

Novo Nordisk's stock price rose by over 2% on Wall Street after JPMorgan Chase raised its price target for the company, citing a strong growth profile and potential catalysts such as positive clinical trial data for its weight-loss drug Wegovy.

9/13/2023

Novo Nordisk Shares Drop After Stock Split, But Long Term Growth Prospects Still Strong Despite Valuation Concerns

Danish drugmaker Novo Nordisk's shares fell after a split aimed at increasing liquidity, but analysts remain optimistic about the company's leadership in the obesity drug market.

9/20/2023

Ypsomed Signs Long-Term Deal to Supply Autoinjectors for Novo Nordisk's Diabetes and Obesity Drugs

Ypsomed has announced a long-term supply deal with Novo Nordisk for autoinjectors, indicating the success of Novo Nordisk's weight-loss drug business and the potential for growth in the obesity market.