Novo Nordisk A/S is trading 5.3% up at $44.23 today, buoyed by positive sentiment in the weight-loss drug sector and a new company-specific development.
- Novo Nordisk entered into a clinical supply agreement to provide its blockbuster drug Wegovy® at no cost for a Phase 2b study by Veru Inc., which will test Wegovy® in combination with Veru's enobosarm for obesity.
- The move follows broader buying in weight-loss peers, with competitor Eli Lilly also seeing a significant stock increase after announcing a $1.9 billion partnership to develop genetic medicines.
- The stock is rebounding after several consecutive down sessions.