It's probably safe to assume that you've seen a commercial or heard a catchy jingle for any (if not all) of the following medications: Ozempic, Rybelsus, Saxenda, and Wegovy. While you may be familiar with the names and functionality of these treatments, did you know that all of them are developed by the same company? That's right -- Danish pharmaceutical company Novo Nordisk (NYSE: NVO) specializes in diabetes and obesity drugs, and each of the treatments above are core pillars in the company's extensive portfolio.

Novo Nordisk just reported earnings for the period ended Sept. 30. Similar to prior periods, Ozempic and Wegovy were the hallmarks of this quarter's earnings. As demand continues to surge, some investors may want to take a close look at the stock. Despite its rich valuation, investors have lots of reasons to believe the stock could go much higher. Let's review the latest quarterly report, and assess if the risk factors associated with Novo Nordisk outweigh the pros of owning the stock.

On Sept. 20, the company conducted a 2-for-1 split on its American Depository Receipts (ADRs), trading on the NYSE, in line with a similar 2-for-1 split done a week earlier to its class-B shares that trade on the NASDAQ Copenhagen. Post-split, the ADRs have been trading between $87 and $102, with the stock closing at $100 on Wednesday.

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Source Fool.com