Why Novo Nordisk Stock Dipped Today
Novo Nordisk (NYSE: NVO) stock didn't enjoy a good start to this week. The company behind the "it" drugs of the moment, Wegovy -- and, to a lesser extent, Ozempic -- saw its share price erode by 2% on Monday, following a media report about its production challenges. By contrast, the S&P 500 index inched up marginally on the day.
Reuters, citing an unnamed "source familiar with the matter," published an article stating that Novo Nordisk has drafted a contract manufacturer in the U.S. to help it assemble and package Wegovy for the market. The company was identified as privately held PCI Pharma Services.
PCI, based in Philadelphia, will assemble the injectable pens used for Wegovy; a cartridge pre-filled with the drug is added at this final stage of manufacturing. The terms of the apparent Novo Nordisk-PCI arrangement are unknown, as is the scope of their deal.
Source Fool.com
