Novo Nordisk's $600 Million Gambit Could Be a Game Changer for the Stock. Here's Why.
NVONovo Nordisk(NVO) The Motley Fool·2024-09-26 17:40

The healthcare company's pivot into a new set of technologies will have many implications for the stock.Novo Nordisk (NVO 1.20%) just made a partnership play worth $600 million with a small biotech called NanoVation that might just change the stock's trajectory for many years to come. On Sept. 18, the pair signed a deal that could eventually pave the way for Novo to make a next-gen medicine that it hopes will one-up Ozempic, its best-selling drug for type 2 diabetes.Competitors like Eli Lilly (LLY 0.01%) ar ...