What's Going On With Ozempic-Maker Novo Nordisk Stock?

Novo Nordisk A/S NVO shares are moving Monday and the Ozempic-maker's stock has gained more than 40% year-to-date. Here's a look at what's going on:

What To Know:

A study published in The Journal of the American Medical Association Monday stated that when study participants with obesity stopped using Eli Lily's obesity-drug, tirzepatide, they regained some of the weight loss. 

Novo Nordisk's weight loss drug, semaglutide, was also found to cause "rebound" weight gain when discontinued in a separate study last year. 

Yahoo Finance named Novo Nordisk, the most valuable company in Europe, as its 2023 Company of the Year on Monday.

According to a report from The Hill, Congressman Bernie Sanders will hold a hearing this week to examine the rise in diabetes and the emerging class of GLP-1 medications, like Ozempic, Wegovy and Mounjaro used to treat Type 2 diabetes.  

Sanders has previously questioned drug-makers regarding the high-cost of insulin and may draw attention to the cost of GLP-1 medications as well.

Congressman Sanders has said, "They're apparently very significant drugs that could be helpful, but they're not going to be helpful if people can't afford them. And then the question is why we are paying in some cases eight times more for that drug than people in other countries?"

According to data from Benzinga Pro, shares of NVO are trading below the stock's 50-day moving average of $98.29 and near its 52-week high of $105.69.

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NVO Price Action: According to Benzinga Pro, Novo Nordisk shares are down by 0.28% at $96.37 at the time of publication.

Image: Mohamed Hassan from Pixabay