Novo Nordisk Rises as Wegovy Is Approved in China

Key TakeawaysAmerican depositary receipts (ADRs) of Danish drugmaker Novo Nordisk rose Tuesday after the company announced that its popular weight-loss drug Wegovy has been approved to start being sold in China.Ozempic, another drug with the same active ingredient, was approved for sale in China in 2021 and has helped boost Novo Nordisk's revenue in the region.The weight-loss drugs have boosted Novo Nordisk's earnings around the world, while U.S.-based competitor Eli Lilly has seen similar success with its ...