Wegovy-maker Novo Nordisk shares surge after GLP-1 pill approval

Shares of Novo Nordisk rose 6% on Tuesday after the Wegovy maker received approval for its world-first GLP-1 pill.

The US Food and Drug Administration’s approval of Novo Nordisk’s GLP-1 pill gives the Danish pharmaceutical giant an advantage over its US rival Eli Lilly.

The company said a 1.5-milligram starting dose of the pill will be available at pharmacies and through select telehealth providers in early January with savings offers of $149 per month.

Under an agreement Novo Nordisk reached with its management last month, patients who pay cash will have access to the same price through TrumpRx, President Donald Trump’s direct-to-consumer website. Drug pricing has been top of mind this year as the U.S. tries to lower the costs consumers pay.

The approval caps a tumultuous year for Novo, marked by boardroom drama, supply chain shortcomings, a bidding war against Pfizer and criticism over the execution of its US strategy.

— CNBC’s Annika Kim Constantino also contributed to this report.