Novo Nordisk shares jump as Eli Lilly's weight-loss pill data disappoints
The market had anticipated Eli Lilly's orforglipron pill to become a strong competitor to Novo's weight-loss drugs, Kepler Cheuvreux analyst David Evans said in an emailed comment.
However, with Thursday's results falling short of those expectations, Evans said investors were likely to rethink the competitive outlook in the GLP-1 obesity drug market, a shift that favours Novo's oral semaglutide.
Novo's shares plunged last week after it slashed its outlook for 2025 sales growth, marking the second forecast cut for the Danish drugmaker this year.
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