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Novo Nordisk's shares plummeted over 21% following disappointing results from the Phase 3 trial of its obesity drug CagriSema, which achieved a 22.7% average weight reduction, falling short of the expected 25%. Analysts have reacted with downgrades, citing safety concerns and underperformance compared to competitors. Despite achieving primary study objectives, the market's response reflects significant investor disappointment.
UBS has maintained a "Neutral" rating for Novo Nordisk, setting a target price of 1,100 Danish crowns. Analyst Jo Walton highlighted disappointing results for the weight loss drug Cagrisema, which showed a 20.4% reduction, falling short of the expected 25%. Future focus may shift towards availability, tolerability, and convenience of oral administration rather than efficacy.
UBS has lowered the target price for Novonesis A/S to DKK 455, maintaining a neutral stance on the company. As a leading producer of enzymes and micro-organisms, Novonesis generates sales primarily from the cleaning and household products industry (28.5%) and bioenergy (24.8%), with significant contributions from food and human health (22.1%) and agriculture (11.8%). Geographically, North America accounts for 33.9% of sales, followed by Europe-Middle East-Africa (33.5%) and Asia-Pacific (18.5%).
UBS has lowered its target price for Novonesis A/S to DKK 455 while maintaining a neutral rating. The company, a leader in enzyme and microorganism production, generates net sales primarily from cleaning products (28.5%), bioenergy (24.8%), and the food industry (22.1%), with significant revenue from North America (33.9%) and Europe/Middle East/Africa (33.5%).
UBS has lowered its target price for Novonesis A/S to DKK 455 while maintaining a neutral rating. The company, a leader in enzyme and microorganism production, generates net sales primarily from cleaning products (28.5%), bioenergy (24.8%), and the food industry (22.1%), with significant revenue from North America (33.9%) and Europe/Middle East/Africa (33.5%).
UBS has reduced its target price for H Lundbeck A/S to DKK 45 from DKK 49, maintaining a neutral stance on the company. Lundbeck, based in Denmark, specializes in pharmaceuticals for brain diseases, with a portfolio that includes treatments for conditions such as depression, Alzheimer's, and Parkinson's.
UBS has reduced its target price for Lundbeck to DKK 45 from DKK 49 while maintaining a neutral stance on the company. Lundbeck A/S, a Danish pharmaceutical firm, specializes in developing treatments for brain disorders, including Alzheimer's, depression, and Parkinson's disease, with a diverse product portfolio.
UBS has maintained a "Neutral" rating for Novo Nordisk, setting a target price of 1100 Danish kroner. Analyst Jo Walton noted a slight increase in first-time prescriptions for weight-loss drugs in the US, based on data up to December 6.
UBS has reduced its target price for Carlsberg A/S to DKK 800 from DKK 870, maintaining a neutral stance on the company. Carlsberg, a leading global beer producer, sold 101 million hectoliters of beer in 2023, primarily under the Carlsberg and Tuborg brands, and also produced 24.1 million hectoliters of non-alcoholic beverages in 2022. The company operates 71 breweries across various regions, with net sales distributed as follows: Western Europe (50.7%), Asia (31.7%), and Eastern/Central Europe (17.6%).
UBS has reduced its target price for Carlsberg A/S to DKK 800 from DKK 870 while maintaining a neutral stance. The company is a major global beer producer, with 101 million hectoliters sold in 2023, primarily under the Carlsberg and Tuborg brands, and operates 71 breweries across various regions. Its net sales are predominantly from Western Europe (50.7%), followed by Asia (31.7%) and Eastern/Central Europe (17.6%).
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