Novo Nordisk (NYSE: NVO) is the company behind Wegovy and Ozempic. Those drugs have been popular with consumers for their ability to help people lose weight and treat diabetes. And they have helped propel Novo Nordisk's valuation to $450 billion, making it one of the most valuable healthcare stocks today. But can the Danish company's valuation continue to rise, and can this be a stock that helps you retire a millionaire?

Novo Nordisk is a leading company when it comes to diabetes and glucagon-like peptide-1 (GLP-1) drugs, which are effective in reducing a person's appetite. Wegovy and Ozempic are both examples of these drugs.

Novo Nordisk's market share in the GLP-1 drug market stands at over 54%, according to the company's recent earnings report. While it may not be able to maintain that level of market share as more competitors enter the space, its early dominance can give it an advantage by resonating with customers at these early growth stages and creating a strong brand presence.

Continue reading

Source Fool.com