Novo Nordisk's Smash-Hit Drug Could Become Even More Profitable. Here's Why.
Novo Nordisk's (NYSE: NVO) semaglutide is everywhere in the news, and for good reason. Thanks to its ability to help people lose weight and control their diabetes symptoms, its moneymaking potential is practically off the charts. And there's a preliminary but growing body of evidence which suggests that in the future semaglutide could rake in even more greenbacks than it already is. Here's how that might happen.
At the moment, semaglutide is indicated to treat obesity and type 2 diabetes, and it's available in a few different formulations, which vary depending on the dosage and whether it's administered via a weekly injection or a once-per-day pill. You've probably seen the advertisements for Ozempic, Rybelsus, and Wegovy -- they're all semaglutide, and there's a shrinking chance that the trio will be the only three trade names for the molecule.
The company's obesity and diabetes care segment was worth more than $7 billion in the first quarter of 2023 alone, up 31% from a year prior due to scaling revenue from the launch of Wegovy. And as Novo Nordisk works to advance its semaglutide programs still in the pipeline, it could soon market the drug for non-alcoholic steatohepatitis (NASH) and Alzheimer's disease, both of which are currently being investigated in phase 3 clinical trials.
Source Fool.com
