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.

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