Key Highlights
- The weight loss pill marked a key win for Novo Nordisk A/S (NYSE:NVO) as the firm has reportedly lagged behind Eli Lilly in the weight loss drug industry.
- After the approval, BMO Capital reiterated a Market Perform rating and a $46 share price target for the company.
- The financial firm outlined that Novo Nordisk A/S (NYSE:NVO) had secured a crucial win as the pill was the first treatment of its kind in the industry.
- It added that the pharmaceutical company could benefit from a first-mover advantage in the space.
- However, Cramer cautioned that doctors might be hesitant in advising patients to switch from Lilly’s weight loss drug to the pill.