Is Novo Nordisk Stock a Buy Now?
The Danish pharmaceutical giant Novo Nordisk (NYSE: NVO) is making waves globally thanks to hotter-than-hot sales of its medicine called semaglutide, which, if the hype is to be believed, is rapidly shaping up to be a wonder drug for both diabetes and weight loss.
But does that make the stock worth buying today, or does it mean that it's too hot to touch? Let's figure it out.
Novo Nordisk has a bunch of different medicines on the market, but the most important one for investors to know about is semaglutide. It's currently being marketed via three brands in the U.S. and the E.U.: Ozempic, Rybelsus, and Wegovy. Wegovy was first approved in mid-2021, and it's indicated specifically to treat obesity, whereas the other two are indicated to treat diabetes. The Food and Drug Administration (FDA) estimated that around 70% of adults in the U.S. are either obese or overweight. So it seems likely that all three medicines will rake in billions of dollars for the company over the coming years.
Source Fool.com
