Novo Nordisk: The Market Hasn't Given It Enough Respect

  • Healthcare stocks have lagged the S&P 500, with Novo Nordisk already hit hard by intense competition from Eli Lilly. Despite recent setbacks and a decelerating growth outlook, Novo Nordisk's valuation now reflects steep pessimism, suggesting the downside appears limited. Novo Nordisk's robust brand, R&D, and profit margins provide a significant moat, even as competition in the GLP-1 market intensifies.