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Why Novo Nordisk Stock Outpaced the Market Today and Hims & Hers Lagged It
Novo Nordisk's (NYSE: NVO) latest move in the retail sphere was met with approval from market participants Wednesday. They bid the stock up by nearly 4% following the company's news, a performance that easily beat the recovering S&P 500's (SNPINDEX: ^GSPC) 1.1% gain.The story was different with Hims & Hers Health (NYSE: HIMS), which earlier this year had stepped into a key Novo Nordisk product segment. That stock rose on Wednesday, but only by 1%.Before market open, Novo Nordisk announced the launch of its NovoCare Pharmacy, a direct-to-patient delivery service for its best-selling Wegovy weight loss drug. All four dose strengths of Wegovy are offered with the service, at a reduced cost of $499 monthly. The service targets uninsured patients, in addition to people with insurance who lack coverage for obesity treatments.Continue reading
Novo Nordisk's (NYSE: NVO) latest move in the retail sphere was met with approval from market participants Wednesday. They bid the stock up by nearly 4% following the company's news, a performance that easily beat the recovering S&P 500's (SNPINDEX: ^GSPC) 1.1% gain.
The story was different with Hims & Hers Health (NYSE: HIMS), which earlier this year had stepped into a key Novo Nordisk product segment. That stock rose on Wednesday, but only by 1%.
Before market open, Novo Nordisk announced the launch of its NovoCare Pharmacy, a direct-to-patient delivery service for its best-selling Wegovy weight loss drug. All four dose strengths of Wegovy are offered with the service, at a reduced cost of $499 monthly. The service targets uninsured patients, in addition to people with insurance who lack coverage for obesity treatments.
