Novo Nordisk 'B'

China's regulatory authority has accepted the approval application for Novo Nordisk's Wegovy tablet for review. Wegovy is a GLP-1 medication for appetite control and lowering blood sugar and has already recorded over 5 million prescriptions in the US. Deutsche Bank cut its price target from 290 to 265 DKK and downgraded the stock from hold to sell. The Novo Nordisk share fell in Copenhagen at times by around 1.97 percent to 298.95 DKK. » Plus sur finanzen.net

China's drug regulator has accepted Novo Nordisk's application to review the oral version of Wegovy. Novo Nordisk intends to compete with Eli Lilly and other providers for market share in GLP‑1 weight‑loss drugs in the world's second‑largest pharmaceutical market. In the US and UK, Novo Nordisk already received accelerated approval for the pill; companies see oral formulations as promising for patients who avoid injections. The decision comes against the backdrop of rising obesity rates in China and planned submissions from competitors such as Eli Lilly. » Plus sur de.investing.com

Deutsche Bank cut its recommendation for Novo Nordisk from "hold" to "sell" and lowered the price target from 290 to 265 DKK, after which the share price fell about 2.4% to 297.8 DKK. The bank cited mixed quarterly results and uncertainty ahead of the upcoming capital markets day. Analysts are also concerned about disappointing pipeline developments (including a failed Ziltivekimab trial) and growing competition from Eli Lilly's new oral GLP‑1 drug. » Plus sur de.investing.com