MedWatch

Investment bank raises guidance for Novo Nordisk after "impressive" Wegovy launch

An "impressive" launch of Novo Nordisk's new obesity treatment Wegovy has led US investment group Jefferies to increase its expectations for the Danish pharmaceutical company.

Photo: Novo Nordisk / PR

Novo Nordisk's share price target has been increased from USD 66 (DKK 415) to USD 74 (DKK 465) by US investment bank Jeffries after an "impressive" launch, the bank reports.

"Wegovy's impressive launch drives the expansion of the US obesity market to unexplored territory. Based on a scenario analysis, we have more than doubled Wegovy's expected top sales from USD 4.3bn to USD 8.9bn from 2022 onwards," analyst Peter Welford writes.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from MedWatch

CHMP recommends nine new drugs, rejects one

Roche and Biogen are among the companies that have received recommendation for approval from the European Medicines Agency's committee (CHMP) at its September meeting. One Pfizer drug was the sole candidate to be rejected.

CEO at WSA: No clarity on EQT exit plans yet

The time horizon for the venture fund EQT's investment in WS Audiology should be ending soon, but according to Group CEO Eric Bernard, there is no clarity on when the potential changes might occur.

Further reading

Related articles

Trial banner

Latest news

See all jobs