Here's 80 Billion More Reasons to Buy Novo Nordisk Stock
Novo Nordisk (NYSE: NVO) is already a stock that's easy to justify buying. Between the incredible success of Ozempic, tons of demand for its weight loss medicine, and big investments in manufacturing as well as its pipeline, optimism about its future is practically a given among many investors.
And now, there's what could be 80 billion more reasons to believe in its stock rising and rising for years to come. So without further ado, let's explore why the bull thesis for this stock just got a lot stronger.
As you're probably aware, Novo Nordisk's golden goose is its molecule semaglutide, which it sells under the trade names Ozempic, Wegovy, and Rybelsus. Ozempic and Rybelsus are indicated to treat type 2 diabetes, and Wegovy is indicated to treat obesity, but all three products promote significant weight loss. Launching and selling these medicines is a big part of the reason the company's trailing-12-month revenue rose by 64% in the last three years alone, most recently at $35.5 billion.
Source Fool.com
