PremiumWhen To Buy The Dip? Goldman's Meeting With Novo Nordisk Execs Offers Clues
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Novo Nordisk shares remain locked in an eight-month downtrend, shedding nearly half of its market capitalization as competitive pressures mount. The Danish pharmaceutical giant is losing ground to Eli Lilly's Zepbound. At the same time, its next-generation anti-obesity drug, CagriSema, recently fell short of Goldman's expectations in a closely watched clinical trial.
Following Novo's fourth-quarter results, Goldman's James Quigley (a Novo super bull), Rajan Sharma, and others met with Novo's management team in New York to help clients assess whether it's time to buy the dip.