Novo Nordisk shares shoot up amid promising results for anti-obesity pill
Novo Nordisk, a Danish drugmaker, has seen its market value increase by £6.5 billion after a trial showed promising results for its new anti-obesity pill. The trial demonstrated that the pill version of the company's Wegovy injection resulted in "significant weight loss," which has raised hopes that Novo Nordisk can regain market share lost to its US rival Eli Lilly and cheaper generic versions of GLP-1 drugs. The company's stock price climbed more than 4.5% on Thursday morning, although it has fallen by nearly 60% in the past year as sales have slowed. The competition between Novo Nordisk and Eli Lilly to develop an effective oral treatment for obesity is intensifying, with both companies racing to bring their respective pills to market.
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