Is Novo Nordisk Stock a Buy Now?
Novo Nordisk (NYSE: NVO) has a couple of promising drugs in its portfolio that have made it a red-hot stock to own. Ozempic and Wegovy are two drugs that consumers have grown familiar with in the past year as excitement has been on the rise for their ability to help people lose weight -- even though diabetes drug Ozempic isn't approved for that use.
The company has been focusing on making the drugs more readily available to consumers; Novo Nordisk has even been using contract manufacturers to help meet demand for Wegovy. And this month, the weight-loss drug entered a new market: the United Kingdom. Let's see what this could all mean for the stock from here.
Novo Nordisk would likely be eager to launch Wegovy in more markets given the hype surrounding the weight-loss drug, but it's struggling to keep up with demand in the U.S., and that has forced it to hold back on expanding too quickly.
Source Fool.com
