Why Novo Nordisk Stock Soared 53% in 2023 (Hint: It Wasn't Just Ozempic)

Going into 2023, Novo Nordisk's (NYSE: NVO) share price had jumped by at least 50% seven times over the previous four decades. The Danish drugmaker added one to that total last year, though, with its stock soaring 53% higher.

It probably will come as no surprise that Novo Nordisk's wildly popular drug Ozempic played a key role in the sizzling gains achieved in 2023. However, Novo's success wasn't only due to Ozempic.

Novo Nordisk got off to a strong start last year with its 2022 full-year results announced in early February. Total revenue jumped 26% year over year.

Source Fool.com