Novo Nordisk's Wegovy Pill Receives FDA Approval, 3,071 Prescriptions in First Four Days
Written by Emily J. Thompson, Senior Investment Analyst
Source: stocktwits
- Drug Approval: Novo Nordisk's Wegovy pill received FDA approval in December, becoming the first FDA-approved oral GLP-1 class drug for weight management, marking a significant advancement in the company's efforts to maintain market share.
- Prescription Performance: The Wegovy pill achieved 3,071 prescriptions in the first four days post-launch, indicating strong market demand, although these figures reflect only retail prescriptions and exclude those filled through the company's online pharmacy.
- M&A Strategy: Despite a robust existing portfolio, Novo Nordisk is actively seeking merger and acquisition opportunities to enhance its drug range, with the CEO stating a willingness to pay any amount for suitable assets, recently acquiring Akero Therapeutics for up to $5.2 billion.
- Market Reaction: On Stocktwits, retail sentiment around NVO stock remained in the 'bullish' territory, with message volume rising from 'normal' to 'high', reflecting investor optimism about the company's future prospects.
Analyst Views on NVO
Wall Street analysts forecast NVO stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for NVO is 57.37 USD with a low forecast of 47.00 USD and a high forecast of 70.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
4 Buy
2 Hold
1 Sell
Moderate Buy
Current: 57.120
Low
47.00
Averages
57.37
High
70.00
Current: 57.120
Low
47.00
Averages
57.37
High
70.00
About NVO
Novo Nordisk A/S is a global healthcare company engaged in diabetes care. The Company is also engaged in the discovery, development, manufacturing and marketing of pharmaceutical products. The Company operates through two business segments: diabetes and obesity care, and biopharmaceuticals. The Company's diabetes and obesity care segment covers insulin, GLP-1, other protein-related products, such as glucagon, protein-related delivery systems and needles, and oral anti-diabetic drugs. The Company's biopharmaceuticals segment covers the therapy areas of hemophilia care, growth hormone therapy and hormone replacement therapy. The Company also offers Saxenda product to treat obesity. It offers a range of products, including NovoLog/NovoRapid; NovoLog Mix/NovoMix; Prandin/NovoNorm; NovoSeven; Norditropin, and Vagifem. As of December 31, 2016, it marketed its products in over 180 countries. Its regional structure consists of two commercial units: North America and International Operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
