Novo Nordisk Just Delivered Great News for Investors. Is a Comeback Finally Underway?
Are things finally starting to look up for Novo (NYSE:NVO) ? The Denmark-based pharmaceutical leader has had a rough past couple of years, but its third-quarter financial results were strong enough to send the stock up 6% post-earnings. That's great news for shareholders, but can Novo maintain this momentum? Image source: The Motley Fool. At first glance, Novo's third-quarter results didn’t seem particularly impressive, as some of the company’s longtime growth drivers underperformed. For instance, sales of Ozempic, the company's famous diabetes medicine, were 29.7 billion Danish kroner (about $4.5 billion), down 3% compared to the year-ago period. The company's weight-loss medicine, Wegovy, recorded sales of 20.4 billion DKK (about $3.1 billion), roughly flat compared with the prior-year quarter. Continue reading