Why Novo Nordisk Stock Is Moving Higher Today
Shares of Novo Nordisk (NYSE: NVO) were moving 2.3% higher as of 10:24 a.m. ET on Monday. The gain appeared to be the result of two factors, one of which is specific to the big drugmaker.
First, the overall stock market was up Monday morning. Second, Reuters reported on Sunday evening that the Indian online marketplace IndiaMART is working to stop illegal sales of Novo Nordisk's weight loss drug Wegovy.
Novo Nordisk hasn't officially launched Wegovy or its sibling product, Ozempic, in India. Both products are actually the same drug (semaglutide), but Wegovy targets weight loss while Ozempic targets type 2 diabetes. The big drugmaker hopes to launch Wegovy in the Indian market in 2026 contingent upon obtaining the necessary regulatory approvals.
Source Fool.com
