Novo Nordisk's Stock Could Get Another Boost, Thanks to This Huge Development
Novo Nordisk (NYSE: NVO) has become one of the most valuable healthcare stocks in the world, largely due to a couple of exceptional drugs, Ozempic and Wegovy. While the former is a diabetes drug and the latter is approved for weight loss, consumers have been using both to help lose weight. And their effectiveness has created significant demand, which has translated into incredible sales and profit growth for Novo Nordisk in recent years.
But the company arguably is not doing as well as it could as there are constraints on both the demand and supply side. Novo Nordisk is investing billions into additional capacity and has been working with contract manufacturers to help increase the supply of these drugs. On the demand side, not everyone who wants these drugs can afford them.
The good news is that health insurers are starting to warm up to the idea of providing coverage for them. Let's see what this could mean for the stock and its investors.
Source Fool.com
