Wegovy maker Novo Nordisk extends losses following first-quarter results
Publishing timestamp: 2024-05-03 11:50:53
Summary
Novo Nordisk's stock slid as analysts reviewed first-quarter results and potential competition in the weight loss drug market. Sales for their weight loss treatment Wegovy doubled, but some analysts believe the stock price is above its intrinsic value. Competition is increasing in the weight loss market, with companies like Amgen and Eli Lilly entering the space. Novo Nordisk and Eli Lilly are expected to maintain their dominance due to their existing presence in the diabetes market.
Sentiment: MIXED
Tickers: MC-FR, AMGN, NOVO.B-DK, NVO, LLY,
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