Novo continues to battle increased compounding of its drugs, in spite of the shortage having been resolved. Earlier this week, Novo Nordisk sued telehealth firm Hims & Hers earlier this week for selling compounded versions of semaglutide, which is the active ingredient of the firm\u2019s injectable and oral obesity drug. The company is asking the court to permanently ban the telehealth firm from selling copycat version of its drugs<\/p>\n
\u201cSo we have set ourselves, never again, on a shortage,\u201d the CEO said.<\/p>\n
Competition Concerns<\/p>\n
Doustdar also dismissed competition concerns with rival drugmaker Eli Lilly and Company (LLY). Lilly is expected to launch its own obesity pill in the second quarter, rivaling Novo\u2019s Wegovy pill.<\/p>\n
Doustdar noted that the Wegovy pill yielded 16.6% weight loss in a clinical trial, compared to Lilly’s 12.4%. Further the price point for the pills is likely to be similar, he said.<\/p>\n
The U.S. Food and Drug Administration is expected to decide on Lilly\u2019s application seeking approval for its oral obesity drug Orforglipron in April. Reuters reported<\/a> on Friday that Lilly had $1.5 billion worth of pre-launch inventory for the drug, ensuring sufficient supply in case of simultaneous approval in several countries.<\/p>\n How Did Stocktwits Users React?<\/p>\n On Stocktwits, retail sentiment around NVO stock<\/a> stayed within the \u2018bearish\u2019 territory, while message volume remained at \u2018normal\u2019 levels.<\/p>\n Sentiment around LLY stock<\/a> trended in the \u2018bearish\u2019 territory at the time of writing.<\/p>\n NVO stock plunged 37% over the past 12 months.\u00a0<\/p>\n Read More: RARE Stock Slumps On Multiple Wall Street Price Target Slashes, Clinical Pipeline Uncertainty<\/a><\/p>\n For updates and corrections, email newsroom[at]stocktwits[dot]com.<\/p>\n
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