Novo Nordisk, GoodRx and Ozempic
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Wegovy is now the second medicine approved in the U.S. for a disease that affects millions. Novo Nordisk has several other factors working in its favor, including strong results and a solid pipeline.
GoodRx (GDRX) shares soared nearly 50% on Monday after announcing a GLP-1 partnership with the Danish pharmaceutical behemoth Novo Nordisk (NVO). In a press release this morning, the Nasdaq-listed firm said “all strengths of Ozempic and Wegovy pens are now available to eligible self-paying patients for $499-per-month through GoodRx.
Interestingly, Wall Street firms largely believe the former will playout in the long run. According to The Wall Street Journal, the consensus rating on Goodrx Holdings currently sits at “overweight” with price targets going as high as $7.0, indicating potential “upside” of another 35% from here.
GoodRx shares are pulling back Tuesday morning. The stock had jumped over 30% Monday after the company announced a new partnership with Novo Nordisk.