Novo Nordisk(NVO) shares rally 0.43% after FDA submission

Novo Nordisk(NVO) shares rose 0.43% today, marking the lowest intraday decline of 1.86% since March 2020.

Novo Nordisk's stock price has been influenced by several key factors recently. One of the primary concerns is the potential loss of market share in the GLP-1 space, which has raised worries among investors about the company's dominance in this area.

On a more positive note, Novo Nordisk has made significant strides with the submission of its new GLP-1 weight loss pill to the FDA. This development is seen as a major step forward for the company, as it aims to expand its offerings in the weight loss market.

Additionally, the strong performance of Eli Lilly in the weight loss market has put pressure on Novo Nordisk. Eli Lilly's rapid entry into this high-growth market has intensified competition, further impacting Novo Nordisk's stock price.