Latest news with #LarsJørgensen
Yahoo
18-05-2025
- Business
- Yahoo
Why Viking Therapeutics Stock Bumped 3% Higher Today
A top-level executive departure at a rival juiced the biotech's shares. Viking is pushing hard in its development of a weight-loss drug. 10 stocks we like better than Viking Therapeutics › A major C-suite change at a potential competitor was a key factor behind the rise of Viking Therapeutics (NASDAQ: VKTX) stock on Friday, which closed the trading session 3% higher. That figure was well higher than the 0.7% increase of the benchmark S&P 500 index. That rival is Novo Nordisk, which announced that its current CEO Lars Jørgensen is to vacate his position. This is the Denmark-based pharmaceutical company that vaulted to prominence earlier this decade when its Wegovy became the first GLP-1 drug approved for obesity by the U.S. Food and Drug Administration (FDA). The European company is a potential competitor because, similarly, Viking has gained a degree of fame with its VK2735, an investigational weight-loss treatment. The medicine performed exceedingly well in phase 2 clinical testing, and hopes are high that it will not only win FDA approval ultimately, but will be a hot item in a hot market when commercialized. Of course, what happens at Novo Nordisk doesn't directly affect Viking's operations, most crucially its development activities. Still, any change in a company's leadership threatens to affect its business momentum, and the weight-loss drug segment is getting increasingly competitive. Even small stumbles, or poor personnel decisions, could mean loss of market share for the Danish pharmaceutical. That said, the reaction with Viking stock seems a bit overdone, especially given that Novo Nordisk is quite a storied enterprise that will likely take care in replacing its CEO. Viking investors should be far more concerned with the progress of VK2735 than what's happening outside the company. Before you buy stock in Viking Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Viking Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $635,275!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,385!* Now, it's worth noting Stock Advisor's total average return is 967% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 12, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy. Why Viking Therapeutics Stock Bumped 3% Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
16-05-2025
- Business
- Globe and Mail
Why Viking Therapeutics Stock Bumped 3% Higher Today
A major C-suite change at a potential competitor was a key factor behind the rise of Viking Therapeutics (NASDAQ: VKTX) stock on Friday, which closed the trading session 3% higher. That figure was well higher than the 0.7% increase of the benchmark S&P 500 index. What's new at Novo That rival is Novo Nordisk, which announced that its current CEO Lars Jørgensen is to vacate his position. This is the Denmark-based pharmaceutical company that vaulted to prominence earlier this decade when its Wegovy became the first GLP-1 drug approved for obesity by the U.S. Food and Drug Administration (FDA). The European company is a potential competitor because, similarly, Viking has gained a degree of fame with its VK2735, an investigational weight-loss treatment. The medicine performed exceedingly well in phase 2 clinical testing, and hopes are high that it will not only win FDA approval ultimately, but will be a hot item in a hot market when commercialized. A distraction at best Of course, what happens at Novo Nordisk doesn't directly affect Viking's operations, most crucially its development activities. Still, any change in a company's leadership threatens to affect its business momentum, and the weight-loss drug segment is getting increasingly competitive. Even small stumbles, or poor personnel decisions, could mean loss of market share for the Danish pharmaceutical. That said, the reaction with Viking stock seems a bit overdone, especially given that Novo Nordisk is quite a storied enterprise that will likely take care in replacing its CEO. Viking investors should be far more concerned with the progress of VK2735 than what's happening outside the company. Should you invest $1,000 in Viking Therapeutics right now? Before you buy stock in Viking Therapeutics, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Viking Therapeutics wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $635,275!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,385!* Now, it's worth noting Stock Advisor 's total average return is967% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 12, 2025
Yahoo
16-05-2025
- Business
- Yahoo
Novo Nordisk CEO steps down in surprise move as 'market challenges' weigh on obesity drugmaker
Novo Nordisk (NVO) CEO Lars Jørgensen is stepping down from his post after eight years in the role, during which he lead the company to an all-time high in the markets. Despite being the first-to-market in the latest generation of GLP-1 drugs, notably with its well-known diabetes drug Ozempic and weight loss drug Wegovy, Novo has recently faced several headwinds, causing the stock to suffer. That includes missing sales estimates in first quarter earnings this year. Those headwinds contributed to the decision Friday, the company said in a statement. "Considering the recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders," the statement said. Jørgensen, who has been with the company since 1991, will stay on through the transition as the company searches for a new leader. Novo's stock was trading down more than 5% in premarket trading Friday. In June 2024, the company was trading ata high of more than $140 per share, and the stock is up nearly 107% in the past five years. Novo had to upgrade its guidance three times that year. It was why Yahoo Finance named it the 2023 Company of the Year. In June 2024, the company was trading at a high of more than $140 per share, and the stock is up nearly 107% in the past five years. After years of being known for its insulin and diabetes products, Novo produced what some have deemed an accidental blockbuster in the form of Ozempic, a diabetes treatment that showed greater weight loss than any prior treatment. It subsequently released Wegovy to target obesity. The move has been credited with changing the narrative and stigma around obesity. But trouble for the company began brewing when its popularity outstripped its supply, and the company began to face stiff competition with Eli Lilly (LLY). Despite recent efforts, like partnering with telehealth firm Hims & Hers (HIMS), and sealing an exclusive deal for CVS's (CVS) drug formulary — Wall Street appears unimpressed. Lilly followed Novo with similar drugs, for both the diabetes and obesity categories, within a year. With greater weight loss potential, Lilly's drugs also soon became popular, and the race began. Both companies suffered shortages of their drugs, spurring a robust— and profitable — copycat market for compounding pharmacies. The FDA has since taken both companies' drugs off the shortage list, but the compounders appear to be determined to continue selling copycats where they can. Lilly was able to get its drugs off the shortage list sooner, and has been able to ramp up manufacturing. Novo's parent company bought an existing contract manufacturer, Catalent, and sold three sites to Novo to help ease the production constraints. Despite both mirroring efforts to compete, Lilly appears to be leading the race. Most recently, its weight loss drug Zepbound overtook Wegovy for new prescriptions. And Novo Nordisk missed first quarter sales this year,and cut its full year guidance. The result has been pressure on the stock, and questions from Wall Street about whether or not it can continue to compete in the GLP-1 space. "Not sure buy that that the entire delta is due to compounders, but stock washed out. Cleary need to regain share/confidence," Mizuho's healthcare expert Jared Holz said in a note to clients earlier this month. Jørgensen's announcement marks the second surprising large healthcare CEO departure this week, as the sector faces several headwinds and underperforms the broader markets. Jørgensen is expected to be elected to the company's board in 2026. Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem. Sign in to access your portfolio
Yahoo
16-05-2025
- Business
- Yahoo
Novo Nordisk CEO steps down in surprise move as 'market challenges' weigh on obesity drugmaker
Novo Nordisk (NVO) CEO Lars Jørgensen is stepping down from his post after eight years in the role, during which he lead the company to an all-time high in the markets. Despite being the first-to-market in the latest generation of GLP-1 drugs, notably with its well-known diabetes drug Ozempic and weight loss drug Wegovy, Novo has recently faced several headwinds, causing the stock to suffer. That includes missing sales estimates in first quarter earnings this year. Those headwinds contributed to the decision Friday, the company said in a statement. "Considering the recent market challenges, the share price decline, and the wish from the Novo Nordisk Foundation, the Novo Nordisk Board and Lars Fruergaard Jørgensen have jointly concluded that initiating a CEO succession is in the best interest of the company and its shareholders," the statement said. Jørgensen, who has been with the company since 1991, will stay on through the transition as the company searches for a new leader. Novo's stock was trading down more than 5% in premarket trading Friday. In June 2024, the company was trading ata high of more than $140 per share, and the stock is up nearly 107% in the past five years. Novo had to upgrade its guidance three times that year. It was why Yahoo Finance named it the 2023 Company of the Year. In June 2024, the company was trading at a high of more than $140 per share, and the stock is up nearly 107% in the past five years. After years of being known for its insulin and diabetes products, Novo produced what some have deemed an accidental blockbuster in the form of Ozempic, a diabetes treatment that showed greater weight loss than any prior treatment. It subsequently released Wegovy to target obesity. The move has been credited with changing the narrative and stigma around obesity. But trouble for the company began brewing when its popularity outstripped its supply, and the company began to face stiff competition with Eli Lilly (LLY). Despite recent efforts, like partnering with telehealth firm Hims & Hers (HIMS), and sealing an exclusive deal for CVS's (CVS) drug formulary — Wall Street appears unimpressed. Lilly followed Novo with similar drugs, for both the diabetes and obesity categories, within a year. With greater weight loss potential, Lilly's drugs also soon became popular, and the race began. Both companies suffered shortages of their drugs, spurring a robust— and profitable — copycat market for compounding pharmacies. The FDA has since taken both companies' drugs off the shortage list, but the compounders appear to be determined to continue selling copycats where they can. Lilly was able to get its drugs off the shortage list sooner, and has been able to ramp up manufacturing. Novo's parent company bought an existing contract manufacturer, Catalent, and sold three sites to Novo to help ease the production constraints. Despite both mirroring efforts to compete, Lilly appears to be leading the race. Most recently, its weight loss drug Zepbound overtook Wegovy for new prescriptions. And Novo Nordisk missed first quarter sales this year,and cut its full year guidance. The result has been pressure on the stock, and questions from Wall Street about whether or not it can continue to compete in the GLP-1 space. "Not sure buy that that the entire delta is due to compounders, but stock washed out. Cleary need to regain share/confidence," Mizuho's healthcare expert Jared Holz said in a note to clients earlier this month. Jørgensen's announcement marks the second surprising large healthcare CEO departure this week, as the sector faces several headwinds and underperforms the broader markets. Jørgensen is expected to be elected to the company's board in 2026. Anjalee Khemlani is the senior health reporter at Yahoo Finance, covering all things pharma, insurance, care services, digital health, PBMs, and health policy and politics. That includes GLP-1s, of course. Follow Anjalee as AnjKhem on social media platforms X, LinkedIn, and Bluesky @AnjKhem.
Yahoo
07-05-2025
- Business
- Yahoo
Why Novo Nordisk missed its sales estimates on weight-loss drug Wegovy: CEO
Novo Nordisk's (NVO) investors are worried its competition with Eli Lilly (LLY) is heating up and that the first-to-market GLP-1 leader is losing ground. Even with 72% of the global market share, the competition in the US has been pressuring the company's stock in recent months. It is no longer Europe's most valuable company, and the stock is down more than 22% year to date. Lilly's Zepbound overtook Novo's Wegovy as the leading obesity drug, according to the latest prescription data last month. But Novo CEO Lars Jørgensen attributes the softness in sales to the copycats from compounding pharmacies, which have been allowed on the market due to the shortage that constrained the market in the past couple of years. The compounding business is "approximately as big as our own business, which is quite surprising in many ways," Jørgensen told Yahoo Finance in an interview Wednesday. Novo reported Wegovy and Ozempic combined sales of more than $7.5 billion. Overtaken? The Wegovy injectable packaging. (Photo by: Michael Siluk/UCG/Universal Images Group via Getty Images) · UCG via Getty Images There is no public data available about the revenues and market size for compounding, but a 2024 estimate from the Outsourcing Facilities Association, the trade group representing compounding pharmacies, showed 80 million prescriptions for copycat semaglutide were filled in the past year. That, Jørgensen said, is why the company missed its Wegovy sales estimates by 7% in first quarter earnings Wednesday. The good news: The FDA recently removed semaglutide — the key ingredient in Wegovy — from its shortage list, which is why Novo has forecast relief in the second half of the year. But it still cut its sales guidance by 3%. Boost access to boost sales Meanwhile, Novo has been busy forging deals with telehealth platforms, like Hims & Hers (HIMS), to increase access to Wegovy. Novo also scored an exclusive deal to be listed as the preferred weight-loss drug for coverage on CVS's (CVS) formulary. This caused Lilly's stock to tank last week, but Jørgensen said CVS approached his company for the deal, not the other way around. "We have not made a bid for an exclusive position," he said. Investors worried it would launch a price war. "Some have been worried a price war was coming up; we are not going for that. We believe in choice for physicians and patients," Jørgensen said. But will it help boost prescriptions for Wegovy? Investors are waiting to find out. Jørgensen said his goal is to meet the patients where they are, as they showed a propensity toward any and all available access points and were willing to pay cash. That's also why CVS, in addition to the formulary, is going to offer Wegovy for $499 per month for cash-paying customers, the same price available through the telehealth platforms.
