10 Firms Defy Market Pessimism

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7. Novo Nordisk (NYSE:NVO)

Pharmaceutical giant Novo Nordisk grew its share prices by 7.13 percent to finish at $622.4 per share following news that its latest clinical trial for a weight loss drug achieved strong results.

For 36 weeks of testing, Novo said that its amycretin drug, a GLP-1 and amylin receptor agonist, was able to achieve an average body weight reduction of 9.7 percent with patients only suffering from mild to moderate gastrointestinal side effects.

Meanwhile, news reports last week said that Novo Nordisk’s diabetes drug Ozempic and weight loss treatment Wegovy are among the 15 drugs that are targeted for price negotiations by the US government.

Prior to former president Joe Biden’s final days in office, 15 drugs have been named for a potential negotiation process for becoming among the most expensive drugs.

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