Novo Soars as Lilly’s Obesity Pill Result Offers Rare Relief
Novo expects to start selling its own obesity pill next year in the US.
Photographer: Dhiraj Singh/BloombergNovo Nordisk A/S shares soared as disappointing data from rival Eli Lilly & Co.’s closely watched obesity pill bolstered investor hopes about the Danish drugmaker’s ability to compete in the burgeoning market.
The shares climbed as much as 14% in Copenhagen, the most since April on an intraday basis. Lilly sank as much as 15% in early trading in New York.