Novo Nordisk Soars on Q2 Earnings and Wegovy FDA Approval

Novo Nordisk reported strong Q2 results with a 16% YoY net sales growth to approximately 155 billion Danish kroner and a 22% net profit growth. The company also received FDA approval for its weight-loss drug Wegovy for the treatment of metabolic dysfunction-associated steatohepatitis. Analysts upgraded the stock to a Buy rating from Deutsche Bank and upgraded it from Sell to Hold by DBS Bank, citing confidence in the company's future. Novo Nordisk offers an attractive annual dividend of $1.17 and is backed by strong institutional interest.