Here Are 3 More Reasons to Be Bullish on Ozempic and Novo Nordisk Stock
Novo Nordisk's (NYSE: NVO) type 2 diabetes drug Ozempic is a sensation, and it's no surprise why. In the first quarter, revenue from Ozempic rose 35% year over year to reach roughly $4.3 billion, and there's no sign of a slowdown in sight.
In fact, it's very possible that sales of the medicine in its various formulations will continue to accelerate for far longer than investors suspect. So here are three new reasons why it's worth being bullish on Ozempic and, by proxy, Novo Nordisk stock.
Ozempic, as well as Novo's drug for weight loss called Wegovy, is based on a molecule called semaglutide. Semaglutide has many beneficial effects, most of which are still in the process of being understood or uncovered for the first time. And according to a pair of studies published in May by a group of researchers at the Case Western Reserve University School of Medicine, it could even be capable of treating addiction.
Source Fool.com
