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.
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.
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.
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.
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.
Anti-obesity drugs developed by Novo Nordisk and Eli Lilly have the potential to transform public health but could also disrupt industries such as food, fitness, and healthcare, affecting companies like Nestlé and McDonald's.
The rise of GLP-1 weight loss drugs like Ozempic and Wegovy has the potential to impact various industries, with drug manufacturers such as Novo Nordisk and Eli Lilly expected to benefit, while medical device companies, fast-food chains, and beer and tobacco companies could be at risk.
Drugmakers spent nearly $500 million on advertisements for obesity and diabetes treatments in the U.S. during the first seven months of this year, with Novo Nordisk's Ozempic and Wegovy leading the pack.
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.
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.
Novo Nordisk's shares received a boost after the company halted trials for a potential kidney failure treatment due to promising results, with implications for other drugmakers such as Eli Lilly, while dialysis firm DaVita saw its shares decline as the study focused on delaying the progression of chronic kidney disease in patients with specific criteria.
Novo Nordisk has raised its full-year sales and operating profit outlook for the third time this year due to strong demand for its weight-loss drug Wegovy and diabetes medication Ozempic in the United States, leading to a record-high in its shares.
Novo Nordisk will acquire ocedurenone, a drug for uncontrolled hypertension with potential applications in cardiovascular and kidney disease, from KBP Biosciences for up to $1.3 billion, allowing Novo to expand beyond diabetes and into other serious chronic diseases.
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