A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. REUTERS/Jim Vondruska/Illustration/File PhotoNovo shares hit record highssaid on Tuesday a large late-stage study showed its obesity drug Wegovy had a clear medical benefit, in addition to weight loss, boosting the Danish drugmaker's hopes of moving beyond Wegovy's image as a lifestyle drug.
The study called SELECT involved 17,500 patients aged 45 years or older with no prior history of diabetes and started almost five years ago testing if the weekly injection has medical benefits.up more than 10% to record highs. The shares have surged almost 150% over the past two years. Novo Nordisk said it expects to file for regulatory approvals of a label indication expansion for the weekly injection in the United States and European Union this year.Sydbank analyst Soren Lontoft Hansen said the better-than-expected results will cause a stir among doctors who prescribe anti-obesity drugs.
The increasingly popular drug has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and celebrities worldwide and boosting Novo's shares.