1355 GMT - The recent share selloff following disappointing trial results of Novo Nordisk's experimental anti-obesity treatment is overdone, UBS analyst Jo Walton writes. "The CagriSema phase 3 data in obesity was undoubtedly disappointing but it is still a higher efficacy treatment that could still show differentiation in type-2 diabetes." UBS says Novo remains the most exciting growth story in European pharmaceuticals and is well placed to continue to benefit from the high demand for GLP-1 medications near-term. UBS upgrades Novo Nordisk to buy from neutral and lowers its price target to 750 Danish kroner from 1,100 kroner. Shares rise 3.1% higher to 621.50 kroner. (dominic.chopping@wsj.com)
(END) Dow Jones Newswires
January 08, 2025 08:55 ET (13:55 GMT)
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