Novo Nordisk (NVO) is a multinational pharmaceutical company that develops treatments for diseases ranging from diabete to rare blood disorders.
While it’s a much less speculative investment in the biotech market compared to MindMed, the company just received a major growth tailwind.
This week, the U.S. Food and Drug Administration (FDA) approved the company’s long-awaited obesity drug. While companies have touted “magical” weight loss formulas promising incredible results, none have effectively created a drug to “cure” obesity.
At least, not until Novo Nordisk created Wegovy for chronic weight management. Data released by the company showed that volunteers with type 2 diabetes lose 17% to 18% of their total weight over 68 weeks. That’s significantly higher than the average decline of 5% to 10% from rival drugs.
And with one-third of the U.S. population suffering from obesity, that means demand for the drug should be incredibly high as it becomes more established on the market.
The Guardian: “New pill could spell the end of aging.”
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