Published on 3 Oct 2022 on Zacks via Yahoo Finance

Will Acquisitions Help Novo Nordisk (NVO) Combat Stiff Rivalry?

Denmark-based Novo Nordisk A/S NVO has one of the broadest diabetes portfolios in the industry. The company’s marketed diabetes drug, Ozempic, is performing well. The launch of Rybelsus also looks impressive. Other drugs like Xultophy and Saxenda are also gaining momentum. Label expansion of these existing drugs is expected to further boost sales.

NVO has a considerable presence in the Diabetes care market, with one of the broadest diabetes portfolios in the industry. The company has improved its global diabetes value market share in the past 12 months from 29.6% to 31.0%, owing to the strong performance of its portfolio.

However, the diabetes market is already crowded with several drugs. Novo Nordisk faces stiff competition from other big pharma companies like Merck, Eli Lilly LLY and Sanofi SNY, among others, who also have approved drugs to treat type II diabetes.