VKTX - Novo Nordisk: The Moat Won't Last Forever
2024-04-09 11:30:10 ET
Summary
- Today, we take a look at Novo Nordisk A/S, whose growth is being powered by Wegovy and Ozempic.
- The GLP-1 market is projected by some to grow to $100 billion by 2030 and Novo Nordisk is currently the preeminent player in this burgeoning space.
- However, Eli Lilly is becoming a major player in this market with its recent launches of Mounjaro and Zepbound.
- In addition, many potential entrants are on the horizon and the company faces additional potential issues.
- After doubling since late 2022, can Novo Nordisk shares move higher still? An analysis follows in the paragraphs below.
Today, we put Novo Nordisk A/S ( NVO ) in the spotlight. The stock has more than doubled since late 2022 as its entrée into the burgeoning weight loss market continues to power substantial growth. However, it faces stiffening competition from drug giant Eli Lilly and Company ( LLY ) as well as new entrants to this space on the horizon as well as other challenges. Where does the stock go from here? An analysis follows below....
Novo Nordisk: The Moat Won't Last Forever