Novo Nordisk gains $42B in value, surpasses Tesla

Novo Nordisk’s stock reached a historic peak with an 8% rise, valuing the company at 4103 billion kroner and surpassing Tesla and Visa. The surge followed positive results from a study on a new weight loss pill, amycretin, which showed a 13.1% body weight reduction over 12 weeks. Amycretin, like Novo’s diabetes and weight loss drugs, is GLP-1 and amylin-based. Meanwhile, Zealand Pharma also hit a record after a rise in their amylin-based drug candidate’s stock. Additionally, Novo discussed INV-347, another weight loss pill with promising trial results in mice. Novo is now the most valuable European company and ranks 12th globally.