Novo Nordisk (NVO) Shares Rebound After Initial Drop Due to Weight Loss Drug Results

1 day ago

On Monday, Novo Nordisk (NVO, Financial) shares rebounded over 4% after a significant drop of 17% in the previous session, now trading at $88.44. The decline followed the company's announcement that its new experimental weight loss drug, CagriSema, helped overweight patients lose 22.7% of their body weight in a late-stage trial, falling short of the anticipated 25% reduction.

The underwhelming results of CagriSema were a setback for the Danish pharmaceutical company, which aims to introduce a more effective drug than Eli Lilly's (LLY) Zepbound to succeed its popular Wegovy.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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