NVO Stock: Novo Nordisk Pops as China Approves Wegovy Weight Loss Drug

Group 1 - Novo Nordisk's stock increased by 2% to $145 per share following China's approval of its weight loss drug Wegovy and a $4.1 billion investment in U.S. production capacity [1] - The expansion in North Carolina is part of a larger $11 billion global production initiative [1] - Novo Nordisk has transformed the weight loss industry, significantly impacting competitors like WW International, which has seen its stock value decline [2] Group 2 - Novo Nordisk pioneered GLP-1 agonists, with semaglutide approved for diabetes treatment in 2017 and Wegovy for weight loss in 2021 [2] - The GLP-1 market grew from $57 million in 2018 to $5.7 billion in 2022, with projections of reaching $133 billion by 2030 [3] - Novo Nordisk and Eli Lilly are expected to dominate 80% of the GLP-1 market through the decade, with Novo's patent on Ozempic expiring in 2032 [4]