Could Novo Nordisk Stock Help You Retire a Millionaire?
Major pharmaceutical businesses aren't known for their rocket-like returns, but they aren't known for experiencing total wipeouts either. That's why a quickly growing, yet already big company like Novo Nordisk (NYSE: NVO) is especially appealing for investment. In theory, it could have significant upside without too much in the way of catastrophic risk.
But could a timely and sufficiently sized investment in this biopharma be enough to make you a millionaire by the time you retire? It's more plausible than it might seem -- here's why.
Addressing whether Novo Nordisk is a stock that'll help you retire as a millionaire means appreciating what it's doing today and what it plans to do in the future. The company's cash cows of the moment include Ozempic, its medicine for type 2 diabetes, and a variation of Ozempic, called Wegovy, that's indicated for weight loss. The pair are tremendously hot sellers, bringing in nearly $5 billion in sales in Q3 of 2023.
Source Fool.com
