Why Is Novo Nordisk Stock Trading Higher On Friday?
Novo Nordisk A/S’ (NYSE:NVO) Canada unit on Thursday announced that Health Canada has accepted for review, under the Priority Review policy, its supplemental new drug submission (sNDS) for semaglutide 2.4 mg, a once-weekly therapy for people living with MASH (metabolic dysfunction-associated steatohepatitis).
“Semaglutide 2.4 mg represents a therapeutic advancement for patients living with MASH, addressing a critical unmet medical need,” says Vince Lamanna, President of Novo Nordisk Canada Inc. “Health Canada’s acceptance of the Semaglutide 2.4 mg submission for review brings us one step closer to providing the first treatment option for eligible people living with MASH.”
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In November 2024, Health Canada approved Wegovy (semaglutide injection) to reduce the risk of non-fatal myocardial infarction (MI) in adults with established cardiovascular disease and a BMI equal to or greater than 27 kg/m2.
It was the first Health Canada-approved treatment to support both chronic weight management and to reduce the risk of non-fatal MI.
MASH is a chronic, progressive metabolic disease affecting the liver.
Among people who are overweight or have obesity, about one in three also have MASH.
Excess fat can build up in the liver, which, over time, can lead to inflammation and severe scarring of the liver.
By 2030, the prevalence of MASH in the Canadian general population is estimated to increase from 5.2% to 6.5%.
In Canada, the number of deaths is expected to double in people living with MASH by 2030.
On Thursday, Novo Nordisk announced that CVS Health Inc's (NYSE:CVS) CVS Caremark, a Pharmacy Benefit Manager (PBM), decided that Wegovy (semaglutide) injection 2.4 mg will soon be the preferred GLP-1 medicine on its largest commercial template formularies.
This change will take effect on July 1, 2025.
In February, the FDA confirmed that all doses of Wegovy were available. In March, Novo Nordisk launched NovoCare Pharmacy to provide direct-to-patient, convenient home shipments of all Wegovy dose strengths at a reduced cost of $499 per month for self-paying patients.
More recently, the Wegovy savings offer was updated, allowing eligible self-paying patients to get the $499-per-month price at their local pharmacy.
On Tuesday, Novo Nordisk and Hims & Hers Health, Inc. (NYSE:HIMS) announced a long-term collaboration.
The company said that individuals may be prescribed Wegovy at a single, unified price starting at $599 per month. The offering is available this week on the Hims & Hers platform.
This new offering builds on Hims & Hers’ existing suite of weight loss solutions and provides self-pay patients with access to all dose strengths of Wegovy in a high-quality pen.
Price Action: NVO stock is up 5.5% at $69.21at last check Friday.
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