By Jacob Gronholt-Pedersen COPENHAGEN, Feb 6 (Reuters) - Shares in Danish drugmaker Novo Nordisk gained 4.7% in early trading on Friday, recovering some of the previous two sessions' steep losses,
Novo Nordisk Stock Recovers as FDA Targets Illegal Drug Copies
Impact of FDA's Actions on Novo Nordisk
By Jacob Gronholt-Pedersen
Stock Market Reaction
COPENHAGEN, Feb 6 (Reuters) - Shares in Danish drugmaker Novo Nordisk gained 4.7% in early trading on Friday, recovering some of the previous two sessions' steep losses, after the U.S. Food and Drug Administration (FDA) pledged to address mass-marketing of unapproved drugs.
Price Pressure on Weight-Loss Medications
The stock plunged nearly 8% on Thursday after telehealth company Hims and Hers Health launched a significantly cheaper $49 compounded version of Novo Nordisk's FDA-approved Wegovy weight-loss pill.
FDA's Stance on Non-Approved Drugs
"FDA will take swift action against companies mass-marketing illegal copycat drugs, claiming they are similar to FDA-approved products," FDA Commissioner Marty Makary said on X without naming any companies.
"The FDA cannot verify the quality, safety or effectiveness of non-approved drugs," he said.
Novo warned on Wednesday of unprecedented price pressure on its weight-loss medicines and dropped its full-year forecast, triggering a 17% slump in its share price.
Novo's shares are near their lowest since Wegovy was introduced in June 2021.
By 0848 GMT the shares were up 4.9% at 294.50 Danish crowns ($46.50).
($1 = 6.3327 Danish crowns)
(Reporting by Jacob Gronholt-PedersenEditing by David Goodman)
