Novo Nordisk is in focus after Singapore regulators updated the Wegovy label with data from the STEP UP obesity trial, providing fresh efficacy details for patients without diabetes. The stock has rebounded sharply, up 19.19% over 30 days and 30.58% over 90 days, though the one-year total shareholder return is down 27.53% and the three-year return is down 33.21%. A narrative fair value estimate of $102.97 per share, versus a last close of $48.89, suggests the stock is 52.5% undervalued, supported by projections that the global GLP-1 market could reach $190 billion to $200 billion by 2035, with some forecasts exceeding $250 billion by 2030-2034. Key risks include potential setbacks on adolescent approvals or a slower-than-expected shift away from compounded GLP-1 versions.
Novo Nordisk A/SSingapore regulators updated Wegovy label with STEP UP trial data, providing fresh efficacy details.