Novo Nordisk's Next-Gen Diabetes Candidate Could Challenge Ozempic -- Is the Stock a Buy?
Novo Nordisk (NYSE: NVO) is under attack. Although the Denmark-based drugmaker is a pioneer and leader in the GLP-1 diabetes and weight loss drug markets, countless companies are trying to steal its lunch. It's no wonder: Ozempic, a diabetes medicine, and Wegovy, a weight loss therapy with the same active ingredient, have both seen incredible success. Challengers were bound to rise, eventually. However, Novo Nordisk is also working on potential successors for these successful brands.
One of the company's leading candidates arguably looks more promising than most candidates being developed by its peers.
The active ingredient in Ozempic and Wegovy is semaglutide. The only difference between the two brands is the dosage. Both work well for their respective purposes. That's why their sales are growing rapidly. In the first quarter, Ozempic's revenue came in at 27.8 billion Danish kroner ($4.1 billion), an increase of 42% year over year. Wegovy's revenue of 9.4 billion DKK ($1.3 billion) soared by 106% compared to the year-ago period.
Source Fool.com
