Ozempic has reached a level of popularity that few prescription medications ever attain. Although the drug is officially approved in the U.S. only for treating type 2 diabetes and cardiovascular risk reduction, it's prescribed frequently off-label for weight loss.

Novo Nordisk (NYSE: NVO) has enjoyed tremendous momentum for Ozempic and its sibling product, Wegovy. Both are the same underlying drug (semaglutide) but with different dosages and regulatory approvals. Wegovy won U.S. approval for weight loss in 2021.

Now, it looks like Ozempic (and Wegovy) could have a new multibillion-dollar market opportunity. Is Novo Nordisk stock a no-brainer buy as a result?

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Source Fool.com