{"id":33031,"date":"2024-06-25T14:55:55","date_gmt":"2024-06-25T14:55:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/novo-nordisk-wins-approval-for-its-weight-loss-drug-from-china\/"},"modified":"2024-06-25T14:55:55","modified_gmt":"2024-06-25T14:55:55","slug":"novo-nordisk-wins-approval-for-its-weight-loss-drug-from-china","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/novo-nordisk-wins-approval-for-its-weight-loss-drug-from-china\/","title":{"rendered":"Novo Nordisk wins approval for its weight-loss drug from China"},"content":{"rendered":"<p><b>(Originally posted on : Invezz )<\/b><br \/>\n<\/p>\n<div>\n<p>Novo Nordisk A\/S (CPH: NOVO-B) climbed 3.0% to an all-time high on Tuesday after China approved the sale of its weight-loss treatment Wegovy.\u00a0<\/p>\n<p><span class=\"news-article-by-paragraph \"><\/p>\n<p><strong><em>Are you looking for signals &amp; alerts from pro-traders? <a href=\"https:\/\/invezz.com\/signals\/?block=news-single&amp;component=np_iccta_p&amp;fragment=text-link&amp;guid=MTY5ODA4NA==\">Sign-up to Invezz Signals\u2122 for FREE<\/a>. Takes 2 mins.<\/em><\/strong><\/p>\n<p><\/span><\/p>\n<p>Year-to-date, shares of the pharmaceutical giant are now up a whopping 45%.\u00a0<\/p>\n<h2 class=\"wp-block-heading\" id=\"why-is-it-a-big-deal-for-novo-nordisk-stock\">Why is it a big deal for Novo Nordisk stock?<\/h2>\n<p><a class=\"copy-link-to-section\" href=\"#\"><i class=\"fa fa-link\"\/><br \/>\n<span class=\"tooltip\" data-text=\"Copy link to section\" data-conf=\"Copied!\">Copy link to section<\/span><br \/>\n<\/a><\/p>\n<p>Novo Nordisk is yet to reveal the details of its launch plan. How much will its weight-loss drug cost in China remains unknown as well.\u00a0<\/p>\n<p>Nonetheless, the announcement is significant for Novo Nordisk stock as it clears the path for Wegovy to generate sales from the world\u2019s second largest economy.\u00a0<\/p>\n<p>Initially, the weekly injectable will be available to people with a BMI of 30kg\/m2 and at least one comorbidity related to obesity.\u00a0<\/p>\n<p>A massive surge in Novo Nordisk shares has won it the crown of the most valuable company in Europe.\u00a0<\/p>\n<figure class=\"wp-block-image inv-component-break-container size-large\"><\/figure>\n<h2 class=\"wp-block-heading\" id=\"ozempic-is-already-approved-in-china\">Ozempic is already approved in China<\/h2>\n<p><a class=\"copy-link-to-section\" href=\"#\"><i class=\"fa fa-link\"\/><br \/>\n<span class=\"tooltip\" data-text=\"Copy link to section\" data-conf=\"Copied!\">Copy link to section<\/span><br \/>\n<\/a><\/p>\n<p>More than 700 million people in China are obese, as per a report the National Health Commission published in 2020.\u00a0<\/p>\n<p>Note that Novo Nordisk will likely face intense competition in China considering domestic drug manufacturers are already working on at least 15 generic versions of Wegovy and Ozempic.\u00a0<\/p>\n<p>The Danish multinational secured approval for Ozempic from Beijing in 2021. That drug generated close to $700 million for Novo Nordisk in China last year \u2013 up roughly double versus 2022. It\u2019s facing immense competition from Eli Lilly &amp; Co in the United States as well.\u00a0<\/p>\n<p>Wall Street currently has a consensus \u201coverweight\u201d rating on Novo Nordisk stock that does not pay a dividend at writing.\u00a0<\/p>\n<figure class=\"wp-block-embed is-type-video inv-component-break-container is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<p>\n<iframe loading=\"lazy\" title=\"Cramer\u2019s Stop Trading: Novo Nordisk\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/Tzhkz8A0pDE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/p>\n<\/figure>\n<h2 class=\"wp-block-heading\" id=\"novo-nordisk-to-invest-billions-in-the-u-s\">Novo Nordisk to invest billions in the U.S.<\/h2>\n<p><a class=\"copy-link-to-section\" href=\"#\"><i class=\"fa fa-link\"\/><br \/>\n<span class=\"tooltip\" data-text=\"Copy link to section\" data-conf=\"Copied!\">Copy link to section<\/span><br \/>\n<\/a><\/p>\n<p>The China news arrives only a day after <a href=\"https:\/\/www.globenewswire.com\/news-release\/2024\/06\/24\/2903283\/0\/en\/Novo-Nordisk-announces-4-1-billion-USD-investment-to-expand-US-manufacturing-capacity.html\" target=\"_blank\" rel=\"noreferrer noopener\">Novo Nordisk announced plans of investing $4.1 billion<\/a> in pursuit of expandings its manufacturing capacity in the U.S.\u00a0<\/p>\n<p>The pharmaceutical giant will set up a new factory in Clayton, North Carolina that will go live between 2027 and 2029. Lars Fruergaard Jorgensen \u2013 the chief executive of Novo Nordisk said in a press release on Monday:<\/p>\n<blockquote class=\"wp-block-quote inv-component-break-container is-layout-flow wp-block-quote inv-component-break-container-is-layout-flow\">\n<p>This is yet another real signal of our efforts to scale up our production to meet the growing global need for our life-changing medicines and the patients of tomorrow.<\/p>\n<\/blockquote>\n<p>Last month, <a href=\"https:\/\/invezz.com\/news\/2024\/05\/02\/earnings-report-novo-nordisk-cashes-in-on-weight-loss-drug-fever-with-better-than-expected-results\/\">Novo Nordisk reported a better-than-expected 28% year-on-year growth<\/a> in quarterly profit to $3.65 billion on the back of a more than 100% annualised growth in sales of Wegovy.\u00a0<\/p>\n<p>Analysts at Deutsche Bank recently maintained their \u201cbuy\u201d rating on Novo Nordisk stock. Their DKK1,100 price target suggests close to a 10% upside from here. The investment firm reiterated its bullish stance following a discussion with Martin Lange \u2013 the head of R&amp;D at Novo Nordisk.\u00a0<\/p>\n<p><img class=\"ss-hidden-pin-image\" alt=\"novo nordisk wegovy approval china\" src=\"https:\/\/invezz.com\/news\/2024\/06\/25\/novo-nordisk-wegovy-approval-china\/\" data-pin-media=\"https:\/\/invezz.com\/wp-content\/uploads\/2024\/06\/i-yunmai-5jctAMjz21A-unsplash1-scaled.jpg\" data-pin-description=\"Novo Nordisk wins approval for its weight-loss drug from China\" style=\"display:none\"\/><\/p>\n<div class=\"advert-reload flex flex-wrap mb-4 inv-advert inv-advert-news inv-component-break-container bg-grey-100 px-4 pt-4 pb-3 \" data-advertid=\"1244463\" data-advert=\"news-single\" data-offertype=\"\">\n<p>\n<span class=\"bg-grey-900\" style=\"opacity: 0.3; width: 100%; height: 100%; position: absolute; top: 0; right: 0;\"\/><br \/>\n<span class=\"text-white relative z-10\" style=\"opacity: 1\">Ad<\/span>\n<\/p>\n<div class=\"leading-150 w-full lg:w-auto lg:flex-1 inv-advert-news__main-content\">\n<p>Want easy-to-follow crypto, forex &amp; stock trading signals? Make trading simple by copying our team of pro-traders. Consistent results. Sign-up today at <a href=\"https:\/\/invezz.com\/signals\/?block=news-single&amp;component=np_iccta&amp;fragment=text-link&amp;guid=MTY5ODA4NA==\" target=\"_blank\" rel=\"noopener\">Invezz Signals\u2122<\/a>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/invezz.com\/news\/2024\/06\/25\/novo-nordisk-wegovy-approval-china\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Invezz ) Novo Nordisk A\/S (CPH: NOVO-B) climbed 3.0% to an all-time high on Tuesday after China approved the sale of its weight-loss treatment Wegovy.\u00a0 Are you looking for signals &amp; alerts from pro-traders? Sign-up to Invezz Signals\u2122 for FREE. Takes 2 mins. Year-to-date, shares of the pharmaceutical giant are now [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":33032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[39],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33031"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=33031"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/33031\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/33032"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=33031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=33031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=33031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}