Novo Nordisk's Semaglutide Gets FDA Approval to Tackle Obesity - Novo Nordisk (NYSE:NVO)

Novo Nordisk A/S NVO has gained U.S. approval for a once-weekly semaglutide 2.4 mg injection, dubbed Wegovy, for chronic weight management.
The drug will be available to obese adults and certain overweight people and should be used in conjunction with diet and exercise, Novo Nordisk said in a statement.
Wegovy is the first weight management drug approved for chronic use in most obese and overweight adults since 2014, the FDA said.
The medication will carry a warning about the risk of certain thyroid cancer.
Wegovy’s price will be similar to Saxenda, which is $1,349 a month, Novo spokesman Michael Bachner said. The company plans to make the exact cost available in the coming days.
The FDA approved the drug, as an addition to diet and exercise, based on phase 3 data showing Wegovy helped one-third of patients lose more than 20% of their body weight over the 68-week trial period. Patients without type 2 diabetes lost 17% to 18% of their weight on average.
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Related content: Benzinga's Full FDA Calendar.
Price Action: NVO shares are up 0.09% at $81.02 during the premarket session on the last check Monday.