Wegovy obesity drug maker Novo Nordisk surpassed Tesla in market value Thursday after fresh early trial data showed positive results for its new experimental weight loss pill.
Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to Factset data.Thursday's uptick extends a months-long rally for Novo Nordisk as excitement grows around weight loss drugs and their wider applications.
Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data.The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The company is now the most valuable in Europe, with a valuation larger than Denmark's total gross domestic product last year.
A Phase II trial of amycretin will begin in the second half of this year, with results expected in early 2026, the company said Thursday. The treatment will then be subject to Phase III and Phase IV trials — a process which could take years. "I never commit to timelines but I would be very comfortable to say at the very least within this decade," Lange he said, according toThe company also said that it expects amycretin, and its other new experimental obesity drug CagriSema, to have similar cardiac benefits to Wegovy.
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