Dec 23 (Reuters) – Novo Nordisk’s Frankfurt-listed shares opened nearly 10% higher in early trading on Tuesday after the U.S. Food and Drug Administration approved its weight-loss pill.
The move gives the Danish drugmaker an edge in the race to market a potent oral medication for shedding pounds as it seeks to regain ground lost to rival Eli Lilly.
The stock has lost over 50% of its value this year amid growing competition in the weight-loss drug market.
(Reporting by Danilo Masoni, editing by Alun John)
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