Core Insights - Novo Nordisk's stock price rose following the FDA's approval of its weight loss drug Wegovy for treating a severe liver disease, marking a positive turn for the company after a significant market value loss [1] - The company experienced a market value drop of $70 billion over the past three weeks due to concerns over competition in the obesity drug market [2] Group 1 - Wegovy is now the first GLP-1 therapy approved for treating metabolic dysfunction-associated fatty liver disease (MASH), which affects approximately 5% of adults in the U.S. [1] - The stock opened with a 5% increase and was up 3.5% at the time of reporting, indicating a recovery in investor sentiment [1] - Novo Nordisk had previously become Europe's most valuable listed company after Wegovy's launch in 2021, but faced challenges with a profit warning and a new CEO appointment [1] Group 2 - Competitor Eli Lilly reported promising mid-stage trial data for its drug tirzepatide, which is the active ingredient in its popular diabetes medication Mounjaro and weight loss drug Zepbound [1] - Analysts predict that Novo Nordisk's market exclusivity will be temporary, as Eli Lilly is expected to launch related products in the future [1] - Since June of the previous year, Novo Nordisk's stock has declined by over two-thirds due to market concerns about its competitive position against Eli Lilly and the influx of generic drugs [2]