NONOF - Novo Nordisk: Even Cash Cow Ozempic Hardly Justifies The Price
2024-02-14 17:35:57 ET
Summary
- Novo Nordisk reported great results for fiscal 2023 with the top and bottom line growing in the higher double-digits.
- Growth was especially driven by Wegovy and Ozempic, and management is also optimistic for fiscal 2024.
- Novo Nordisk is trading for high valuation multiples and might be trading above its intrinsic value, but it is cheaper than Eli Lilly.
My last article about Novo Nordisk A/S ( NVO ) was published in November 2023 and in the article, I argued that the price of Novo Nordisk could still be justified....
Novo Nordisk: Even Cash Cow Ozempic Hardly Justifies The Price