Novo Nordisk A/S experienced a remarkable intraday surge, the most significant in two decades, following the release of a study pertaining to its obesity treatment Wegovy. The study's results, as reported by Bloomberg News on Tuesday, reveal that Wegovy contributes to a notable 20% decrease in the likelihood of heart attacks and strokes. This finding has propelled Novo Nordisk's stocks to reach impressive highs of up to 16.7%.
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| Weight-Loss Medication Wegovy Demonstrates 20% Reduction in Heart Attack and Stroke Risk: Notable Findings from Study |
The burgeoning demand for Wegovy within the market has been noteworthy, causing the company to grapple with manufacturing capacity. The recent study is poised to further elevate the demand for the medication. Novo Nordisk has gained substantial attention, attributed to endorsements from celebrities and prominent business figures who have lauded its pharmaceuticals for managing obesity and diabetes. While Ozempic, the drug for diabetes, remains a cornerstone of their offerings, Wegovy is hailed as particularly effective in combating obesity.
The study underscores that both medications share a common active ingredient, semaglutide.
As indicated by Bloomberg News, the Danish pharmaceutical entity unveiled that patients afflicted with obesity or overweight conditions and a history of cardiovascular problems, who were administered the Novo drug, exhibited a 20% decreased susceptibility to cardiovascular events compared to those who received a placebo.
Elevated Drug Costs
The pharmaceutical company has articulated its intentions to seek regulatory endorsements for expanded applications of its products in both the United States and the European Union within this fiscal year. Presently, the medications carry a high price point, rendering them financially prohibitive for a substantial number of patients, with annual costs surpassing $10,000 in the US.
Elaborating on the study's particulars, the Bloomberg report elucidates that the investigation was initiated in 2018, encompassing over 17,000 participants from 41 countries. The study placed special emphasis on individuals aged 45 and above, who had a history of cardiovascular ailments.
This recent surge is poised to propel the company forward, with analysts projecting that Wegovy's sales could potentially reach an impressive $14 billion.