Weight loss drug makers still have huge upside, and the market overreacted to RFK Jr. named to top health role, BMO says [Business Insider]
Novo Nordisk A/S (NVO)
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Source: Business Insider
Yet, BMO says the sell-off was overdone, and argues the role will have limited impact on the drugs. Shares of pharmaceutical companies that produce popular weight loss drugs have tumbled since president-elect Donald Trump named Robert F. Kennedy Jr. to lead the Department of Health and Human Services, but analysts at BMO Capital Markets said this week that the selloff is overdone. Since Kennedy's nomination last Thursday, stocks like Wegovy and Ozempic maker Novo Nordisk and Zepbound maker Eli Lilly have lost 3% and 7%, respectively. Other weight loss drug stocks like Amgen and Structure Therapeutics, meanwhile, have fallen 5% and 13%. The selloffs "reflect more fear than real fundamental downside risk," the analysts argued in a note. They say Kennedy's role as the top health leader in the US comes with limited ability to actually change policy that would impact the pricing and availability of the drugs. As a result, there is likely little risk to the shares of companies like
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NVO
News
- Novo Nordisk's Wegovy launches in China, offering obesity drug at a fraction of US prices [Yahoo! Finance]Yahoo! Finance
- Eli Lilly and 2 More Drug Stocks to Buy After RFK-Inspired Drop [Yahoo! Finance]Yahoo! Finance
- Useless Europe is sleepwalking into oblivion [Yahoo! Finance]Yahoo! Finance
- Weight loss drug makers still have huge upside, and the market overreacted to RFK Jr. named to top health role, BMO says [Yahoo! Finance]Yahoo! Finance
- Is Novo Nordisk Stock a Buy Right Now? [Yahoo! Finance]Yahoo! Finance
NVO
Earnings
- 11/7/24 - Beat
NVO
Sec Filings
- 11/19/24 - Form 6-K
- 11/18/24 - Form 6-K
- 11/14/24 - Form 6-K
- NVO's page on the SEC website