Novo Nordisk shares jump 8% on promising weight loss trial results; Eli Lilly dips
Publishing timestamp: 2024-03-07 12:01:22
Summary
Novo Nordisk reported positive early trial data for its new experimental weight loss drug, amycretin, showing 13.1% weight loss in participants after 12 weeks. Shares of Novo Nordisk have gained more than 27% since the beginning of the year, as the company continues to benefit from high demand for its anti-obesity drugs. The company also reported positive late-stage trial results for its drug Ozempic, showing health benefits beyond weight loss and diabetes treatment. Eli Lilly's shares were down in morning trade following Novo Nordisk's news.
Sentiment: POSITIVE
Keywords: biotech and pharmaceuticals, markets, eli lilly and co, investment strategy, breaking news: markets, breaking news: investing, novo nordisk a/s, business news, health care industry,