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Posted 9/13/2023, 9:32:06 AM

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

Novo Nordisk shares fell in first trading after stock split aimed at increasing liquidity
Split brings price levels in line with market practice, but shares still expensive at 35x forward earnings
Novo dominates growing global obesity drug market worth estimated $71B in a decade
Not all analysts optimistic - some say growth and valuation overly optimistic
Novo aiming for big tech-like retail investor buzz with split after shares rose 7x since last split in 2014

yahoo.com

Relevant topic timeline:

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.

8/28/2023

How Ozempic and Weight Loss Drugs Are Reshaping This Country’s Economy

The Danish pharmaceutical company Novo Nordisk, known for its weight loss drugs Ozempic and Wegovy, is driving most of Denmark's recent economic growth and has become the second most valuable public company in Europe.

9/1/2023

Weight loss drugmaker Novo Nordisk vies to become Europe's most valuable company, toppling LVMH

Novo Nordisk briefly surpassed LVMH to become Europe's most valuable company on the back of its weight loss drugs, but LVMH regained the top spot, although Novo Nordisk remains close behind with its highly anticipated drugs.

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.

9/6/2023

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.

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.

9/18/2023

Arm Holdings Shares Slide After Bernstein Issues Underperform Rating Questioning AI Prospects

Arm Holdings' shares fell after Bernstein initiated coverage on the chip designer with an underperform rating, suggesting it may not benefit as much from artificial intelligence as some investors anticipate.

10/3/2023

Novo Nordisk Weight Loss Drug Wegovy Yields Billions in Windfall for Owner Novo Holdings

Novo Holdings, the controlling shareholder of Novo Nordisk, could receive a significant windfall from the success of weight-loss drug Wegovy, potentially making it a major philanthropist and ESG investor.

10/5/2023

Weight-Loss Drugs Like Ozempic Lead to Decline in Soda Sales, Hurting Coca-Cola

Coca-Cola shares fell as weight-loss drugs like Ozempic and Wegovy are causing customers to buy fewer groceries and consume fewer calories, leading to concerns in the industry.

10/11/2023

Novo Nordisk Stock Jumps as Diabetes Drug Ozempic Hints at Kidney Disease Treatment, Hurting Dialysis Providers

Novo Nordisk's stock surged after suggesting that its diabetes drug, Ozempic, may have the potential to treat chronic kidney disease, causing stocks of dialysis providers DaVita and Fresenius to plummet.