Novo Nordisk's Wall Street Boost: Wegovy's Early U.S. Success

Shares of Novo Nordisk surged over 5% following promising early U.S. prescription data for its Wegovy pill. Previously approved by the FDA, Wegovy's initial sales are a key focus as the company competes with Eli Lilly in the weight-loss drug market, seeking to recover after last year's challenges.

Shares of pharmaceutical heavyweight Novo Nordisk rose by over 5% on Friday, hitting heights unseen since October, following the release of promising early U.S. prescription data for its new drug, Wegovy. The company's aim is to regain momentum in the competitive weight-loss drug sector.

Approved by the U.S. Food and Drug Administration last month, Wegovy became available to American patients on January 5. Market observers are scrutinizing these early sales figures for signals of the drug's potential. 'The share price reaction is driven by encouraging early scripts for Wegovy Pill in the U.S.,' said Sydbank analyst Soren Lontoft Hansen.

Per Hansen of Nordnet noted that the rise in shares 'most likely' stems from the U.S. prescription data. As Novo Nordisk operates under new leadership, the company is leveraging its market lead in an effort to bounce back from a challenging previous year marked by slowing growth in its injectable offerings and consequent profit warnings.

(With inputs from agencies.)