Novo Nordisk Shares Are Now Recovering from Peak Pessimism
Wegovy injection pens at the Novo Nordisk A/S pharmaceutical manufacturing facility in Hillerod.
Photographer: Charlotte de la Fuente/BloombergNovo Nordisk A/S shares are staging a comeback after a tumultuous year for the maker of Ozempic and Wegovy.
The stock is up more than 27% from a multi-year low in April, and the Danish drugmaker is now neck-and-neck with software developer SAP SE to claim the spot of Europe’s most valuable public company. Investors have been getting more positive on the prospect of a sales rebound for Wegovy, and about a potentially firmer direction for the company after last month’s announcement of the ouster of Chief Executive Officer Lars Fruergaard Jorgensen.