Why Novo Nordisk Stock Dropped on Monday, but Eli Lilly and Him & Hers Health Popped
There's a price war brewing in GLP-1 weight loss drugs, and now it's going global.
Novo Nordisk (NYSE: NVO) stock slipped 1.7% through 12:10 a.m. ET Monday on a pair of news items with which investors seem less than thrilled:
First, Novo Nordisk is expanding its program to sell Wegovy GLP-1 weight loss drugs at discounted prices. Second, Novo is spending $2 billion to license an entirely different GLP-1 drug from China.
In contrast, Eli Lilly (NYSE: LLY) and Hims & Hers Health (NYSE: HIMS) both jumped on today's news. They rose 2.7% and 7%, respectively.
