Is Novo Nordisk Stock a Buy Now?
Last year, Denmark-based biotech giant Novo Nordisk (NYSE: NVO) couldn't stop grabbing headlines. From the company's notable work in the market for weight-loss drugs to its meaningful contribution to its country's economy, Novo Nordisk got plenty of accolades that translated to an excellent performance on the stock market.
Novo Nordisk's shares are up by 57% over the trailing-12-month period. However, some investors might feel as though they have missed the boat. Maybe it's too late to get in on Novo Nordisk. But is that the case? Let's find out whether there is some fuel left in the company's growth engine.
The business of developing and marketing drugs isn't exactly the most exciting around. But Novo Nordisk's obesity and weight-loss medicines, led by Ozempic, have become incredibly popular among investors and the public. Here is what's going on. Diabetes and obesity have been on the rise for years, a trend that is predicted to continue. Anti-obesity drugs will likely soar in popularity. According to some analysts, the market will be worth $44 billion by 2030, up from just $2.5 billion in 2022.
Source Fool.com
