Ozempic Just Got Even Better for Novo Nordisk Stock
Unless you've been living under a rock, you've probably heard of Ozempic, Novo Nordisk's (NYSE: NVO) blockbuster diabetes medicine that's sweeping the globe. The company is selling Ozempic and other medicines derived from the same molecule at such massive scale that it opted to pause marketing efforts because it simply can't manufacture enough.
And there's one big new reason to believe that it'll be selling even more Ozempic, along with related drugs, in the future.
Semaglutide is the active ingredient in Novo's weight loss and diabetes drugs like Ozempic and Wegovy. In Q2 of 2023 alone, its semaglutide therapies brought in $2.6 billion, with diabetes sales up 49% from a year prior, and obesity sales rising by 158%. There's reason to believe the semaglutide gold mine is going to keep yielding even more returns.
Source Fool.com
