Ozempic manufacturer NVO has corrected ~30% from its euphoric 2024 high. Kennedy is not good news for the Ozempic manufacturer, but NVO also has to deal with the growing competition in the GLP-1 space from the likes of Wegovy and Mounjaro. The current appetite is enormous for these weight loss drugs, even in Australia, with the costs for patients running between $300 and $1000 pm. However, history tells us there are very few sustainable quick fixes in life, with many patients quickly putting the weight back on when they start taking the drugs – good for the drug makers! The next few years are hard to forecast for this space, and we want clarity or bargain prices before investing.
- We have no catalyst to buy NOV, but it’s entering technical support below $US100.
MM is neutral towards NVO
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