Novo Nordisk (NVO.US) Wegovy clinical data outperforms Eli Lilly (LLY.US), leading gains in European healthcare stocks
According to Jinse Finance APP, on Monday, European stock markets edged higher, with the healthcare sector serving as the main support. Earlier data showed that Danish pharmaceutical giant Novo Nordisk's (NVO.US) weight-loss drug Wegovy offers better heart protection than the competing product from Eli Lilly (LLY.US), sending Novo Nordisk shares higher.
As of press time, the pan-European Stoxx 600 index was up 0.29% at 551.72 points. Last Friday, the index had just experienced its first weekly decline in four weeks.
Among them, the healthcare sector was one of the best-performing industry sectors of the day. As the fourth-largest healthcare company in the Stoxx index, Novo Nordisk's share price climbed nearly 3%. Previously released real-world comparative data from the company showed that, compared to Eli Lilly's competing drugs Mounjaro (tirzepatide) and Zepbound (tirzepatide injection), Wegovy (semaglutide) can reduce the risk of heart attack, stroke, or death in patients by 57%.
The European market's defense sector also performed strongly, rising by 1.2%. Among them, shares of UK aerospace systems company BAE Systems rose 2%, after Norway announced it had chosen the UK as its strategic partner for the procurement of new frigates, a deal valued at around 10 billion pounds (approximately $13.51 billion).
Last Friday, a US federal appeals court ruled that most of the tariffs imposed by US President Donald Trump were illegal, but allowed these tariffs to remain in effect until mid-October to allow time for further appeals. It is worth noting that, as it was a US holiday on that day, overall market trading volume is expected to remain at a low level throughout the day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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