Novo Nordisk A/S, together with its subsidiaries, engages in the research and development, manufacture, and distribution of pharmaceutical products in Europe, the Middle East, Africa, Mainland China, Hong Kong, Taiwan, North America, and internationally. It operates in two segments, Diabetes and Obesity Care, and Rare Disease. The Diabetes and Obesity care segment provides products for diabetes, obesity, cardiovascular, and other emerging therapy areas. The Rare Disease segment offers products in the areas of rare blood disorders, rare endocrine disorders, and hormone replacement therapy. The company also provides insulin pens, growth hormone pens, and injection needles. In addition, it offers smart solutions for diabetes treatment, such as smart insulin pens and Dose Check, an insulin dose guidance application. The company has a collaboration agreement with Aspen Pharmaceuticals to produce insulin products. Novo Nordisk A/S was founded in 1923 and is headquartered in Bagsvaerd, Denmark.

Novo Nordisk A/S

Key Points
Anti-obesity drugs are being considered for a range of addictive behaviors.
Pfizer just acquired a next-generation, clinical-stage maker of obesity treatments.
What's the hottest trend in the pharmaceutical industry right now?
You could make a strong argument that it's the expansion of so-called GLP-1 medications. These miracle drugs effectively promote weight loss (in addition to treating diabetes), but there's growing evidence that they can also tame cravings for alcohol and narcotics, and even mitigate behaviors like sex addiction and gambling.
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Right now, the major manufacturers of GLP-1 drugs are Novo Nordisk (NYSE: NVO), which makes Wegovy, and Eli Lilly (NYSE: LLY), which manufactures Zepbound. These are already blockbuster drugs, and they're bound to get even bigger. Demand for and sales of the weight loss drugs are only expected to accelerate, and the size of the anti-obesity drug market is forecast to hit $100 billion within five years.
A third major player
But a third major pharma player is emerging in the GLP-1 space.
That would be Pfizer (NYSE: PFE), which is now getting into the weight loss market. In September, it announced that it would acquire Metsera, a next-generation, clinical-stage biopharmaceutical company that's developing several obesity treatments. The price of the acquisition is $4.9 billion.
One of Metsera's drug candidates, MET-233i, can be taken less frequently than the Novo Nordisk and Lilly drugs, and has proven highly effective -- it helped patients in one study to lose 8.4% of their body weight in 36 days.
These weight loss drugs are big, and rapidly getting bigger. An investment in Pfizer today could pay off in a major way as this trend continues.
Should you invest $1,000 in Pfizer right now?
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Matthew Benjamin has positions in Novo Nordisk. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

What Is 1 of the Best Pharmaceutical Stocks to Buy Now?

Novo Nordisk NVO and Structure Therapeutics GPCR have emerged as noteworthy companies in the obesity space.
A market leader in the GLP-1 space, Novo Nordisk markets its semaglutide drugs under brand names Ozempic (pre-filled pen) and Rybelsus (oral tablet) for type II diabetes (T2D), and Wegovy (injection) for chronic weight management.
On the other hand, Structure Therapeutics is a clinical-stage biotech firm evaluating several obesity drugs in clinical and preclinical studies.
Though the comparison may seem mismatched given the stark contrast in size and commercial maturity between the two companies, both are innovating within the same metabolic treatment space. Investors now face a key question: Should they favor the stability and proven track record of a pharmaceutical giant or bet on a potential biotech disruptor? Let's examine the fundamentals of the two stocks to make a prudent choice.
The Case for NVO
Novo Nordisk has achieved tremendous success in the cardiometabolic treatment space, all thanks to its semaglutide medicines, Ozempic, Rybelsus and Wegovy, which are seeing great demand trends and driving top-line growth. As of June 2025-end, Novo Nordisk remained theglobal marketleader in the GLP-1 segment, with around 52% value market share.
NVO has been investing heavily to expand its manufacturing capacity as part of its strategic move to strengthen its diabetes and obesity care market leadership for its GLP-1 products.
Novo Nordisk is pursuing new indications for its semaglutide products, including label expansions in cardiovascular and other indications. Recently, Rybelsus became the first oral therapy approved in the United States to lower the risk of major adverse cardiovascular (CV) events in high-risk T2D patients, regardless of prior CV history. In August, Wegovy received label expansion in the country for metabolic dysfunction-associated steatohepatitis (MASH). These efforts could expand the eligible patient population for semaglutide and boost sales.
However, Novo Nordisk has been facing rising competitive and operational headwinds. The company has sharply cut its 2025 sales and profit outlook, citing weaker-than-expected momentum for Wegovy and Ozempic amid competition from illegally compounded GLP-1 products and slower adoption across U.S. and international obesity markets. Competitive intensity is escalating with archrival Eli Lilly LLY, which markets its tirzepatide injections under the brand names Mounjaro and Zepbound. These compete directly with Novo Nordisk’s semaglutide products. The company has also been under pressure due to disappointing data from two late-stage studies for its next-generation subcutaneous obesity candidate, CagriSema, a follow-up drug to Wegovy.
NVO is also navigating a period of leadership and governance transition. Novo Holdings, the company’s controlling shareholder, recently moved to overhaul the board following a rare public disagreement with existing directors over governance priorities. This shake-up comes only months after a major executive change, as former CEO Lars Fruergaard Jørgensen stepped down amid mounting market headwinds and a sharp decline in NVO’s stock since mid-2024. The board appointed Maziar Mike Doustdar as the new president and CEO, who took office on Aug. 7, 2025.
At a recent White House event last week, Trump signaled potential steep price cuts for the company’s GLP-1 therapies. The President stated that the prices of these drugs, once negotiated, would be “much lower,” suggesting that they could drop to around $150 out-of-pocket for Americans. While lowering the costs of Ozempic and Wegovy could greatly expand access for people living with diabetes and obesity, it also raises questions about how such a shift might affect the economics of drug development and future medical breakthroughs.
The Case for GPCR
Structure Therapeutics is one of the few biotech stocks that is evaluating more than one obesity drug in clinical development. The most advanced candidate in its pipeline is aleniglipron, an investigational GLP-1 receptor agonist, which is being developed across two mid-stage studies — ACCESS and ACCESS II — for the treatment of obesity. Data from both studies are expected before the end of this year.
GPCR also plans to initiate three new studies on aleniglipron, including one in patients with type II diabetes, before year-end 2025. These study launches are part of the company’s broader strategy to generate additional data to better position the drug against competition and support the design of a late-stage program.
Structure Therapeutics is also developing ANPA-0073, a phase II-ready APJR agonist candidate designed to enable selective, muscle-sparing weight loss. The company is currently conducting long-term chronic GLP toxicology studies on the drug, which it expects to complete by the year’s end.
Beyond these two drugs, GPCR is advancing several obesity drug candidates based on different mechanisms of action at the preclinical stage, including dual amylin and calcitonin receptor agonists (DACRA), glucose-dependent insulinotropic polypeptide receptor (GIPR) and glucagon receptor (GCGR) agonists. The company’s pipeline also includes a promising candidate for idiopathic pulmonary fibrosis (IPF).
Yet, Structure Therapeutics’ biggest challenge lies in its lack of an approved product in its portfolio and the intense competition from pharma giants that already dominate the obesity landscape.
How Do Estimates Compare for NVO & GPCR?
The Zacks Consensus Estimate for NVO’s 2025 sales indicates an increase of over 16% year over year, while the same for EPS suggests an increase of nearly 12%. EPS estimates for both 2025 and 2026 have declined over the past 30 days.
Image Source: Zacks Investment Research
Devoid of a marketed product, the consensus estimate for GPCR’s 2025 bottom line suggests loss per share to widen by nearly 31%. Loss estimates for 2025 and 2026 have remained unchanged over the past 30 days.
Image Source: Zacks Investment Research
Price Performance and Valuation of NVO & GPCR
Year to date, shares of NVO have plummeted 38%, while those of GPCR have lost 2%. In comparison, the industry has risen over 9%, as seen in the chart below.
Image Source: Zacks Investment Research
From a valuation standpoint, Novo Nordisk seems to be more expensive than Structure Therapeutics, going by the price/book (P/B) ratio. NVO’s shares currently trade at 9.30 times trailing book value, higher than 1.98 for GPCR.
Image Source: Zacks Investment Research
NVO or GPCR: Which is a Better Pick?
While Novo Nordisk continues to lead the global GLP-1 market, the company is navigating several near-term challenges, including intensifying competition from Eli Lilly, guidance cuts and leadership transitions. These factors have weighed on investor sentiment, a steep decline in share value over the past year.
In contrast, Structure Therapeutics, despite being a clinical-stage biotech with no marketed products, could see increased investor interest ahead of several key catalysts. The upcoming mid-stage data readouts for aleniglipron and the planned study initiations across its obesity and metabolic pipeline are pivotal for the company’s prospects.
Though both stocks remain sensitive to competitive dynamics and data outcomes in the rapidly evolving obesity-treatment landscape, we currently believe GPCR is a safer bet in the near term. This is also reinforced by the stock’s favorable standing in the Zacks Rank framework, with Structure Therapeutics carrying a Zacks Rank #3 (Hold) versus Novo Nordisk’s Zacks Rank #4 (Sell).
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NVO vs. GPCR: Which Obesity Stock is the Better Buy Right Now?

Investors in Novo-Nordisk AS (Symbol: NVO) saw new options become available today, for the December 5th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NVO options chain for the new December 5th contracts and identified one put and one call contract of particular interest.
The put contract at the $47.00 strike price has a current bid of $1.18. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $47.00, but will also collect the premium, putting the cost basis of the shares at $45.82 (before broker commissions). To an investor already interested in purchasing shares of NVO, that could represent an attractive alternative to paying $53.11/share today.
Because the $47.00 strike represents an approximate 12% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 77%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 2.51% return on the cash commitment, or 21.29% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Novo-Nordisk AS, and highlighting in green where the $47.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $63.00 strike price has a current bid of $1.07. If an investor was to purchase shares of NVO stock at the current price level of $53.11/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $63.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 20.64% if the stock gets called away at the December 5th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if NVO shares really soar, which is why looking at the trailing twelve month trading history for Novo-Nordisk AS, as well as studying the business fundamentals becomes important. Below is a chart showing NVO's trailing twelve month trading history, with the $63.00 strike highlighted in red:
Considering the fact that the $63.00 strike represents an approximate 19% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 70%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 2.01% boost of extra return to the investor, or 17.08% annualized, which we refer to as the YieldBoost.
The implied volatility in the put contract example is 54%, while the implied volatility in the call contract example is 65%.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $53.11) to be 52%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Also see:
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Funds Holding ARRS
ADMS Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

December 5th Options Now Available For Novo-Nordisk (NVO)

Novo Nordisk NVO has moved to convene an Extraordinary General Meeting (EGM) after a rare and public disagreement over board composition between its current board of directors and the Novo Nordisk Foundation, the company’s controlling shareholder. The decision marks a significant and unexpected governance shake-up at one of the largest healthcare companies. The EGM will be held on Nov. 14, 2025, during which new members will be elected to the board of directors, signaling a potential realignment of corporate leadership and strategic direction. Following the news, NVO shares lost 1.7% on Tuesday and continue to decline in the pre-market hours today.
Per Novo Nordisk, discussions between the board and the Foundation failed to produce a shared vision for the board’s future composition. The existing board favored a measured renewal strategy, adding select new competencies while preserving continuity. However, the Foundation pushed for a more extensive reconfiguration. Given the Foundation’s majority voting power, the board decided that it was in the best interest of NVO and its shareholders to call an EGM to resolve the matter and ensure governance clarity. As part of the transition, Chair Helge Lund, Vice Chair Henrik Poulsen, and five independent board members will not stand for re-election. Only Kasim Kutay, CEO of Novo Holdings, and the four employee-elected board members will remain.
The Foundation has proposed a new slate of directors to be elected at the EGM, including Lars Rebien Sørensen, former CEO of Novo Nordisk, as Chair, Cees de Jong as Vice Chair, and Britt Meelby Jensen, Mikael Dolsten and Stephan Engels as members. Two additional members, including Helena Saxon, are expected to be proposed at the company’s next Annual General Meeting (AGM) in March 2026. Sørensen is expected to serve as Chair for a limited term of 2-3 years, with a dual mandate to support the execution of Novo Nordisk’s transformation agenda under the new CEO and to identify a new long-term chair to lead the company into the next decade.
Year to date, NVO stock has plunged 36.3% against the industry’s 6% growth.
Image Source: Zacks Investment Research
In parallel, the Foundation is also restructuring its investment arm, Novo Holdings, to align leadership across the group. Sørensen will step down as Chair of Novo Holdings, with Lars Green, former CFO of Novozymes (now Novonesis), set to take over the role. Britt Meelby Jensen, currently CEO of Ambu, will become Vice Chair. The changes at Novo Holdings will come into effect in November 2025 and are expected to consolidate the Foundation’s oversight of its most valuable asset, Novo Nordisk.
The EGM will be held virtually, with shareholders encouraged to participate through proxies, advance voting, or webcast. For investors, this rapid and coordinated leadership reshuffle underscores the pivotal role of the Foundation in shaping Novo Nordisk’s governance and long-term strategy. While the full implications for corporate strategy remain to be seen, the shake-up highlights the Foundation’s intent to steer the company more assertively, potentially accelerating strategic shifts at a time when Novo Nordisk’s market leadership in diabetes and obesity therapies is drawing heightened global attention.
The Rationale Behind NVO’s Sudden Governance Shift
Novo Nordisk has achieved tremendous commercial success with its semaglutide-based (GLP-1) drugs, Wegovy and Ozempic for obesity and diabetes, respectively, in the past few years. NVO was once crowned as Europe’s most valuable company. However, the company’s growth trajectory has suffered severely since mid-2024.
In July 2025, NVO revised its sales and profit outlook for the year, reflecting slower-than-expected uptake for Wegovy and Ozempic, due to intensifying competition from arch-rival Eli Lilly LLY and compounded semaglutide alternatives in its largest obesity market, the United States. To tackle the same, Novo Nordisk announced a major restructuring program in September 2025, aimed at streamlining operations and reinvesting in its core diabetes and obesity businesses. The plan includes reducing its global workforce by about 9,000 employees, targeting annualized savings of around DKK 8 billion by 2026.
Novo Nordisk also underwent a major transition in its executive management as CEO Lars Fruergaard Jørgensen stepped down due to market headwinds and a decline in the company’s stock since mid-2024. The board appointed Maziar Mike Doustdar as its new president and CEO, who took office on Aug. 7, 2025.
Although the Foundation fully supports the appointment of the new CEO and the recently announced restructuring plan, it believes that the management and the board failed to adequately anticipate and respond to the rapid shifts in the weight-loss market that triggered the downturn. In the Foundation’s view, an accelerated board renewal, rather than waiting until the ordinary AGM in March, is necessary to protect shareholder interests and restore strategic agility. The newly elected board’s immediate priority will be to execute on the transformation agenda and work toward regaining Novo Nordisk’s growth momentum.
Eli Lilly is Novo Nordisk’s fierce competitor in the diabetes/obesity space. LLY’s tirzepatide-based drugs, Mounjaro (for diabetes) and Zepbound (for obesity), have captured rapid demand and market share. Despite being on the market for less than three years, both drugs have become Eli Lilly’s key top-line drivers. In the first half of 2025, they generated combined sales of $14.7 billion, accounting for 52% of LLY’s total revenues. Lilly’s Mounjaro and Zepbound follow a dual mechanism of action as a GIP and GLP-1 RA.
Novo Nordisk A/S Price and Consensus
NVO’s Zacks Rank and Stocks to Consider
Novo Nordisk currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the overall medical sector are Alnylam Pharmaceuticals ALNY and ANI Pharmaceuticals ANIP, carrying a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
In the past 60 days, estimates for Alnylam’s 2025 earnings per share have risen from $3.34 to $3.88. During the same period, earnings per share for 2026 have increased from $9.23 to $10.28. Year to date, ALNY’s shares have surged 101.4%.
Alnylam’s earnings beat estimates in three of the trailing four quarters, while meeting the same on the remaining occasion, with an average surprise of 348.36%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2025 earnings per share have risen from $7.25 to $7.29. During the same period, earnings per share for 2026 have increased from $7.74 to $7.81. Year to date, ANIP’s shares have rallied 72.6%.
ANI Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with an average surprise of 22.66%.
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Novo Nordisk A/S (NVO) : Free Stock Analysis Report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

NVO Stock Falls Amid Governance Shift as Foundation Seeks New Board

Key Points
Eli Lilly is expected to present third-quarter results on Oct. 30 after the market opens.
Wall Street analysts will be looking closely at sales growth for Mounjaro and Zepbound.
The market's expectations for Eli Lilly are high.
Eli Lilly (NYSE: LLY) is one of the pharmaceutical industry's biggest success stories of the past several years. During the 18-month period from the end of 2022 through the end of June 2024, its stock price soared by 147.5% as its weight-management drug exceeded expectations.
Unfortunately, the good times didn't last forever. From the end of June 2024 through Oct. 20, 2025, Eli Lilly stock dropped by 10.7% and investors want to know when they can expect it to recover.
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On Oct. 30, Eli Lilly will announce third-quarter earnings results that could lift the stock, or pressure it further. Here are three things beyond the headline numbers that investors should know before trying to evaluate the company's recent performance.
1. All eyes are on tirzepatide
Tirzepatide is a dual glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptor agonist. It was first approved to treat diabetes by the Food and Drug Administration (FDA) in 2022 under the brand name Mounjaro. In 2023, the same drug also earned FDA approval for chronic weight management under the brand name Zepbound.
In 2024, combined sales of Mounjaro and Zepbound more than tripled to reach a whopping $16.47 billion. That was enough to drive total revenue 32% higher last year.
Eli Lilly's stock has underperformed over the past year because investors are concerned that unauthorized versions of tirzepatide sold by compounding pharmacies will eat into its share of the market. These fears don't seem well-founded. In the first half of 2025, total tirzepatide sales rose by 121% year over year to reach $14.7 billion.
2. Eli Lilly is made of many pieces that move in different directions
While sales of tirzepatide are surging, not all of Eli Lilly's revenue streams are growing. Trulicity, a GLP-1 treatment first approved to treat diabetes in 2014, was the company's largest source of sales, but it's been losing ground to Mounjaro. Jardiance is another diabetes treatment that's contributing less revenue than it used to.
When it comes to patent protections, drug patents are relatively short-lived. The introduction of generic or biosimilar versions of branded drugs can quickly reduce the revenue those brands generate. To offset the losses, Eli Lilly and its big pharma peers regularly invest today's profits into tomorrow's blockbusters.
Tirzepatide is offsetting several aging products with declining sales. As a result, total second-quarter revenue climbed 38% year over year. This is an outstanding growth rate that Eli Lilly could have trouble maintaining in the years ahead.
This May, analysts at Goldman Sachs reduced their outlook for global anti-obesity drug sales in 2030 down to $95 billion annually from a previous estimate of $130 billion.
Tirzepatide has been a big winner over the past few years because its dual GLP-1/GIP mode of action is more effective at reducing appetite than drugs that only act on GLP-1 receptors. Unfortunately, it's also less easily tolerated. Many patients seeking weight-reduction treatments choose Wegovy from Novo Nordisk because tirzepatide makes them nauseous.
3. Expectations are high
At recent prices, shares of Eli Lilly have been trading for 35.8 times forward-looking earnings estimates. That is a rich multiple for most pharmaceutical companies, but Eli Lilly has raised earnings per share by a whopping 122% over the past three years.
If tirzepatide's growth rate in the first half of 2025 continues for a few more years, investors who buy Eli Lilly at recent prices could realize market-beating gains. That said, they would be accepting a lot more risk than they'd get with most pharmaceutical stocks.
Eli Lilly could lose market exclusivity for Trulicity, a previously popular GLP-1 drug, in the U.S. beginning in 2027. As an approved diabetes treatment, low-cost biosimilar versions will more than likely pressure Mounjaro sales. Off-label prescriptions could pressure Zepbound sales down the road.
Now that the market for GLP-1 treatments has matured, the rapid growth rates investors have gotten used to seeing from Eli Lilly could become impossible to repeat. If tirzepatide sales stumble, and the market begins assuming this company will revert to typical growth rates for its industry, investors who buy at today's prices could get stuck with heavy losses.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

3 Things Investors Need to Know Ahead of Eli Lilly's Q3 Earnings Report

Key Points
Moderna could tumble once again, if there's a lack of positive news in its upcoming earnings release.
Novo Nordisk looks cheap, but the drugmaker's low valuation makes sense compared to future growth forecasts.
UnitedHealth's "Buffett boost" could soon wear off.
"Buying the dip" can be a double-edged sword for investors. Sometimes they can seize the opportunity by purchasing an oversold stock, but other times, that stock is trending lower for a good reason (and just might stay there). The latter can happen even among stocks in so-called "defensive" sectors like healthcare.
With the three healthcare stocks featured below, any "buying the dip" in them today could prove to be a regretful mistake in hindsight.
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1. Moderna
Moderna (NASDAQ: MRNA), a longtime biotech start-up, became a highly profitable drug company in 2021 and 2022, when Spikevax, its COVID-19 vaccine, was in high demand due to the pandemic. In both those years, additional revenue and earnings were in the billions.
Since then, however, COVID-19 vaccine demand dropped dramatically, and revenue has fallen significantly. Last quarter, Moderna's total sales totaled just $142 million. Meanwhile, the company continues to invest heavily into the development of other mRNA-based medicines, but these costly efforts have yet to produce Moderna's next blockbuster drug.
Givern these circumstances, it's not surprising that share prices have fallen by around 35% year to date, and by around 95% from their all-time highs set in 2021. Unless Moderna unveils a positive surprise when the company next announces earnings on Nov. 6, shares could experience further downward price pressure.
2. Novo Nordisk
Novo Nordisk (NYSE: NVO) once had first-mover advantage when it came to GLP-1 therapies, but competitors like Eli Lilly have since grabbed significant market share. As a result, forecasts call for this company, the manufacturer of Ozempic and Zepbound, to experience a slowdown in earnings growth this year, as well as in 2026.
While earnings per share increased by 22% in 2024, sell-side analyst estimates say that earnings will only increase 3.8% this year, and by 4.8% in 2026. Worse yet, recent remarks from President Donald Trump regarding GLP-1 prices could mean even greater disappointment with future earnings.
Trading at a forward P/E ratio of 14, Novo Nordisk might look like a "cheaper way" to play the GLP-1 trend, given that Eli Lilly trades for 27 times forward earnings. However, relative to growth, Novo Nordisk's valuation isn't justified, and it may be somewhat inflated, especially if governmental pressure to lower GLP-1 prices does indeed start to affect profitability and growth.
3. UnitedHealth Group
UnitedHealth Group (NYSE: UNH), once a Wall Street darling, has experienced tragedy, controversy, and headwinds like rising costs over the past year. This has led to a 37% price decline for shares in America's largest health insurance company.
Back in August, news of legendary investor Warren Buffett's Berkshire Hathaway making a $1.5 billion investment in UnitedHealth led to a partial price rebound for shares. However, this "Buffett boost" could ultimately prove to be short-lived. UnitedHealth next reports earnings later this month, on Oct. 28.
Following other developments, such as the company's reestablishment of full-year guidance, expectations now run high that the worst is over. Still, as margin pressures persist, and the company remains under investigation from the U.S. Department of Justice (DOJ) investigation, there's still room for some unexpected bad news, which may result in a pullback for shares.
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*Stock Advisor returns as of October 20, 2025
Thomas Niel has positions in UnitedHealth Group. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends Moderna, Novo Nordisk, and UnitedHealth Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

These 3 Beaten-Down Healthcare Stocks Could Have Farther to Fall

Key Points
New launches and label expansions should help Novo Nordisk maintain a strong position in its markets.
Merck is planning for life after the Keytruda patent cliff thanks to new launches and a promising pipeline.
The market is forward-looking, but investors who earn better-than-average returns often look even further into the future and identify opportunities that are currently being overlooked. That means, among other things, buying shares of companies that are lagging the market but can bounce back over the midterm and beyond.
Here are two great examples: Novo Nordisk (NYSE: NVO) and Merck (NYSE: MRK). These two drugmakers have been battered and bruised recently, but they can still deliver competitive returns.
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1. Novo Nordisk
Novo Nordisk has lost significant market value due to an increasingly competitive landscape in its core therapeutic areas: diabetes and weight management. However, the company has near-term and long-term catalysts that could help it bounce back and perform well during the next 10 years.
Over the next 12 months, Novo Nordisk should earn approval for an oral version of its obesity therapy Wegovy, having already submitted regulatory applications in the U.S.
It could be the first oral GLP-1 to earn the green light as a weight management therapy. This would be meaningful: Pills are easier to store, transport, and manufacture. They are also easier on patients who don't like needles.
A cheaper, more accessible, and less painful option would be a meaningful addition to the market, helping Novo Nordisk's sales move in the right direction.
The pharmaceutical company has also earned approval for Wegovy in treating metabolic dysfunction-associated steatohepatitis (MASH). It became only the second Food and Drug Administration-approved medicine in this indication, where there is a significant unmet need.
Rezdiffra, the first to earn that honor, achieved it last year and is now generating over $200 million in quarterly sales, so it has an annual run rate of nearly $1 billion already for its producer, Madrigal Pharmaceuticals. Wegovy should see similar success in MASH.
Now, for the catalysts that could power Novo Nordisk over the long run: The company has several promising mid- and late-stage programs. These include its investigational triple agonist, or a medicine that mimics the action of three separate gut hormones. None currently exists in the diabetes or weight management market, but this approach could significantly boost efficacy.
The company also has another oral weight-loss medicine in phase 3 studies.
Novo Nordisk's pipeline is deep and should yield some clinical and regulatory success in the next five years, allowing it to generate strong financial results. The company might be down right now, but holding on to it through the next decade is still a great idea.
2. Merck
Merck is facing issues. The company's best-selling product by far, cancer drug Keytruda, will face a patent cliff in the U.S. in 2028. And its HPV vaccines, Gardasil and Gardasil 9, have seen declining sales this year due to weak demand in China.
Those are Merck's two biggest growth drivers, so this hardly paints a bright picture for the company's future. However, the market has factored in those obstacles, and its stock is down significantly over the past 18 months.
The good news is that the drugmaker has a plan to move beyond these problems. Merck is projecting that sales of its vaccines will rebound in the second half of 2025 and will continue growing through the next few years.
As for Keytruda, the company earned approval for a subcutaneous version of the medicine that is just as effective while decreasing active prep and monitoring time for physicians. This newer formulation should attract some of the old version's patients and help smooth out losses from biosimilar competition.
Merck's newer launches will also be important. These include Winrevair, a medicine with a novel mechanism of action for the treatment of pulmonary arterial hypertension. Beyond that, the company has 80 programs in phase 2 or phase 3 studies, and at least a few of those will eventually lead to brand-new product launches.
So Merck might struggle over the next year or two, but investors looking beyond that should seriously consider the stock. It could generate strong returns over the next decade.
Should you invest $1,000 in Novo Nordisk right now?
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Prosper Junior Bakiny has positions in Novo Nordisk. The Motley Fool has positions in and recommends Merck. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

2 Beaten-Down Stocks to Buy and Hold for the Next Decade

Key Points
Eli Lilly has arguably taken the lead in the obesity drug space.
Novo Nordisk has struggled, but remains a top contender with a potential catalyst looming.
Viking Therapeutics is a riskier choice, but its experimental obesity drug has tons of potential.
Obesity drugs are arguably the hottest growth opportunity in the healthcare sector.
These drugs primarily work by slowing digestion and suppressing patients' appetites. What began as a treatment for type 2 diabetes has expanded into the broader weight management space, creating a surging market opportunity. According to Morgan Stanley, obesity drug sales could grow from $15 billion last year to $150 billion by 2035.
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Two pharmaceutical companies have dominated the industry with their current-generation subcutaneous (injected) drugs, but the stakes are high as next-generation treatments near regulatory approval, including oral (pill) formulations.
Here are three high-profile competitors in the obesity drug industry, and why they are set to soar this Fall and beyond.
1. Eli Lilly: The current clubhouse leader in the U.S. market
Eli Lilly (NYSE: LLY) has become the leading company in the United States for obesity drugs. It sells two primary products containing tirzeptatide as the proprietary active pharmaceutical ingredient (API): Mounjaro for type 2 diabetes, and Zepbound for chronic weight management. The two products have an estimated 1.1 million active transcripts in the United States between them.
The company has dramatically expanded its market share over the past year, capitalizing on its arch-rival's struggles -- more on that shortly. Eli Lilly is developing orforglipron, a once-daily oral GLP-1 medication for the treatment of type 2 diabetes and obesity. It's also developing retatrutide, a triple-hormone-receptor agonist, as its next subcutaneous obesity drug.
These innovations, assuming they ultimately obtain regulatory approvals, could enable Eli Lilly to build on its recent momentum in a vast addressable market that spans far beyond its current patient count of 1.1 million. Eli Lilly hopes to submit for final approval to launch orforglipron later this year.
2. This industry stalwart dominates international markets
Novo Nordisk (NYSE: NVO) is Eli Lilly's arch-rival. Although the company has lost market share over the past year, Novo Nordisk remains a prominent force in this industry. Its proprietary semaglutide is the active pharmaceutical ingredient in Ozempic for type 2 diabetes and Wegovy for obesity. These two drugs have about 968,000 transcripts in the United States. Novo Nordisk also holds a total market share of approximately 71% of the international GLP-1 market.
However, the company has struggled against telehealth companies selling compounded semaglutide, essentially copycat products made at customized dosages. It has become problematic enough that Novo Nordisk cut its outlook and the CEO stepped down earlier this year. One way Novo Nordisk plans to combat compounded obesity drugs is with a pill version of Wegovy. It would be the first GLP-1 pill to hit the market if it launches before Eli Lilly's orforglipron.
Since it utilizes semaglutide, which has already proven effective and popular among patients, it could persuade individuals using compounded subcutaneous treatments to switch. It doesn't seem like a stretch to say that most people would probably prefer a pill to a needle. Novo Nordisk has already submitted its formal application to the FDA and could receive a decision by the end of the year. News of approval would likely reinvigorate this slumping pharmaceutical giant.
3. A new competitor to the obesity drug space with loads of potential
Viking Therapeutics (NASDAQ: VKTX) could emerge as a new challenger to the dominance currently enjoyed by Eli Lilly and Novo Nordisk in the obesity drug market. The company's experimental drug, VK2735, is a dual GLP-1/GIP agonist, similar to tirzepatide, Eli Lilly's proprietary drug used in Mounjaro and Wegovy. Importantly, Viking Therapeutics is developing both a subcutaneous version (in phase 3 trials) and an oral version (in phase 2 trials).
While the oral formulation's most recent trial results included some issues with side effects, VK2735 has demonstrated strong efficacy. It appears poised to be a competitive offering if it wins regulatory approval and reaches the market. Viking Therapeutics only has a market cap of $4 billion, leaving room for significant investment upside if the company can successfully establish itself in the obesity drug space.
However, the stock is riskier than its established competitors, as it hasn't brought a product to market yet, and thus, has no revenue. The stock has been quite volatile and is currently down over 60% from its all-time high. Viking Therapeutics could soar heading into the Fall, or possibly next year, as Wall Street anticipation builds for updates on the subcutaneous version of VK2735.
Should you invest $1,000 in Eli Lilly right now?
Before you buy stock in Eli Lilly, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Eli Lilly wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $646,805!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,123,113!*
Now, it’s worth noting Stock Advisor’s total average return is 1,055% — a market-crushing outperformance compared to 189% for the S&P 500. Don’t miss out on the latest top 10 list, available when you join Stock Advisor.
*Stock Advisor returns as of October 13, 2025
Justin Pope has no position in any of the stocks mentioned. The Motley Fool recommends Novo Nordisk and Viking Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

These 3 Obesity Drug Stocks Are Set to Soar This Fall and Beyond

(RTTNews) - Novo Nordisk announced that the US Food and Drug Administration has approved Rybelsus—the only oral GLP-1 medication—for reducing the risk of major adverse cardiovascular events (MACE), including cardiovascular death, heart attack, and stroke, in adults with type 2 diabetes who are at high risk, regardless of prior cardiovascular history (covering both primary and secondary prevention). Results from the SOUL trial further reinforce the clinical profile of semaglutide, a molecule studied across multiple therapeutic areas.
This new indication makes Rybelsus the only oral GLP-1 medicine approved to reduce the risk of MACE in adults with type 2 diabetes who are at high risk for these events. It serves for both primary prevention (reducing the risk of major adverse cardiovascular events by preventing or managing risk factors in adults who are at high risk for these events) and secondary prevention (reducing the risk of another event in people who have had a serious CV event).
The FDA initially approved Rybelsus in 2019 as the first and only GLP-1 medicine in pill form, along with diet and exercise, to improve glycemic control for adults with type 2 diabetes.
Separately, Novo Nordisk has also submitted a supplemental application in the US for a once-daily oral formulation of semaglutide under the trade name Wegovy for the treatment of obesity. A decision is expected later this year.
For More Such Health News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

FDA Approves Novo Nordisk's Rybelsus For Cardiovascular Risk Reduction In Type 2 Diabetes Patients

Novo Nordisk NVO shares fell roughly 4% in pre-market trading today after U.S. President Donald Trump signaled potential steep price cuts for the company’s blockbuster GLP-1 RA drugs during a White House event on Thursday. NVO markets semaglutide-based therapies Ozempic for diabetes and Wegovy for obesity, both of which have been key growth drivers for the company in the past.
At the press conference, when a reporter sought clarification on the President’s remarks about a “$1,300 weight-loss drug,” Trump confirmed that he was referring to Ozempic and a “fat-loss drug,” presumably Wegovy. He further stated that the prices of these drugs, once negotiated, would be “much lower,” suggesting that they could drop to around $150 out-of-pocket for Americans.
Mehmet Oz, head of the Centers for Medicare & Medicaid Services, noted that the government has not yet started formal negotiations on the prices of the GLP-1 class of drugs, which includes Ozempic, but confirmed the process will be rolled out over time. When pressed for a timeline, President Trump said that the prices of these drugs are expected to come down “pretty fast.” Oz emphasized that once negotiations begin, they will continue until the President is “happy with the result.” Novo Nordisk has not yet commented on the claims made by the President on Thursday.
Lowering the cost of Ozempic and Wegovy could greatly expand access for people living with diabetes and obesity, but it also brings questions about how such a shift might affect the economics of drug development and future medical breakthroughs. Trump’s pledge could either pave the way for more affordable treatment options or spark debate over its broader ripple effects — and the outcome is still uncertain.
Please note that although Ozempic is indicated for diabetes treatment, it is often used off-label in the United States for weight loss. Ozempic and Wegovy are both currently priced at $1,000 or more for a month’s supply in the United States. However, Novo Nordisk has launched its online direct-to-patients channel, NovoCare Pharmacy, which offers all doses of Ozempic and Wegovy at a discounted monthly price of $499 for cash-pay patients.
Year to date, NVO stock has plunged 34.7% against the industry’s 5.5% growth.
Image Source: Zacks Investment Research
How the Development Affects NVO’s Competitive Edge
Novo Nordisk has achieved tremendous commercial success with Wegovy and Ozempic in the past. However, the company’s growth trajectory has suffered recently.
In July 2025, NVO revised its sales and profit outlook for the year, reflecting slower-than-expected uptake for Wegovy and Ozempic, due to intensifying competition from arch-rival Eli Lilly LLY and compounded semaglutide alternatives in its largest obesity market, the United States. To tackle the same, Novo Nordisk announced a major restructuring program in September 2025, aimed at streamlining operations and reinvesting in its core diabetes and obesity businesses. The plan includes reducing its global workforce by about 9,000 employees, targeting annualized savings of around DKK 8 billion by 2026.
Amid these challenges, a sharp reduction in the prices of NVO’s core revenue drivers poses a serious threat to its profitability, particularly given that the United States is its largest market for obesity treatments. Pushing GLP-1 drug prices to such low levels could also discourage major pharmaceutical companies like Novo Nordisk from investing heavily in R&D and future innovation.
Novo Nordisk A/S Price and Consensus
How Trump’s Comments Affect NVO’s Arch-Rival LLY
Eli Lilly is Novo Nordisk’s fierce competitor in the diabetes/obesity space. LLY’s tirzepatide-based drugs, Mounjaro (for diabetes) and Zepbound (for obesity), have captured rapid demand and market share. Despite being on the market for less than three years, both drugs have become Eli Lilly’s key top-line drivers. In the first half of 2025, they generated combined sales of $14.7 billion, accounting for 52% of LLY’s total revenues. Lilly’s Mounjaro and Zepbound follow a dual mechanism of action as a GIP and GLP-1 RA.
Following Trump’s remarks on Thursday, shares of Eli Lilly also slipped roughly 4% in pre-market trading on Friday, reflecting investor concerns that its GLP-1 therapies may face similar pricing pressure once negotiations with the government begin. Like Novo Nordisk, Lilly currently prices its GLP-1 drugs — Mounjaro and Zepbound — at around $1,000 or more per month. However, the company offers Zepbound at a reduced cash price through its online pharmacy, LillyDirect, at $349 per month for the 2.5 mg dose and $499 per month for higher doses. Mounjaro, however, is not currently available through LillyDirect.
NVO’s Zacks Rank and Stocks to Consider
Novo Nordisk currently carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the overall medical sector are Chemomab Therapeutics CMMB and ANI Pharmaceuticals ANIP, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Chemomab Therapeutics’ 2025 loss per share have narrowed from $2.40 to 60 cents. Loss per share estimates for 2026 have narrowed from $2.80 to $1.00 during the same period. CMMB stock has plunged 55.1% year to date.
Chemomab Therapeutics’ earnings beat estimates in three of the trailing four quarters, while meeting the same on the remaining occasion, with an average surprise of 26.25%.
In the past 60 days, estimates for ANI Pharmaceuticals’ 2025 earnings per share have risen from $7.25 to $7.29. During the same period, earnings per share for 2026 have increased from $7.74 to $7.79. Year to date, ANIP’s shares have rallied 66.5%.
ANI Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with an average surprise of 22.66%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	34.72 23.75
Price/Sales	12.22 3.01
P/B	31.25 2.20
P/FCF	42.03 18.30

Indicator	TTM Median
ROE	86.36 25.41
ROA	27.44 6.00
Net Worth	478.21 0.20
Quick Ratio	0.76 1.71
Current Ratio	0.94 2.83

Indicator	TTM Median
Net Profit Margin	35.03 10.25
Operating Margin	43.77 14.24
Gross Margin	84.66 68.59
Return on tangible equity	181.57 53.53

Indicator	TTM Median
EPS	0.71 0.37
EPS Forecast	0.66 0.37
Revenue	10.51B 16.00M
Gross Profit	8.84B —
EBITDA	5.34B —

Novo Nordisk A/S

TTM metrics for the latest quarter under IFRS and their historical dynamics

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Other ratios

Revenue