Novo Nordisk shares rose Friday after the FDA granted accelerated approval for Wegovy to treat liver fibrosis in adults, according to TipRanks. Wegovy becomes the first GLP-1 therapy cleared for this use and only the second FDA-approved treatment for the disease. Approval was based on trial data showing Wegovy outperformed placebo in improving liver fibrosis and resolving inflammation in patients. Novo said Wegovy will be available immediately in the U.S. and should be used with diet and exercise. Analysts estimate the approval could unlock a $30 billion market, intensifying competition with Madrigal and Eli Lilly. Novo’s stock gained 7% in after-hours trading, though the company recently lowered its 2025 sales outlook. Analysts currently hold a Moderate Buy consensus with an average price target of $66.17, implying 26.25% upside.
