Why Novo Nordisk Stock Popped Today

On Tuesday, there were two key news items from Novo Nordisk (NYSE: NVO) for investors to digest. The pharmaceutical company, best known for its highly popular Wegovy obesity medication, unveiled results of a late-stage clinical trial of a potential successor drug. On top of that, it presented research suggesting previously unknown beneficial effects of taking Wegovy. The market liked what it heard, clearly, and investors collectively bid up Novo Nordisk stock by almost 3% on the day. That gave it an easy beat against the S&P 500 index, which slumped marginally.At this year's annual meeting of the European Association for the Study of Diabetes, Novo Nordisk presented data from a phase 3 clinical trial for cagrilintide. Like Wegovy, this treatment targets obesity, and it performed well versus a placebo in the study. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool