Novo Nordisk shares climbed after the U.S. Food and Drug Administration approved a new indication for the Danish drugmaker’s blockbuster Wegovy medicine to treat a serious fatty liver disease. Shares in Novo Nordisk rose as much as 5% in early European trading Monday,

Shares in Novo Nordisk rose on Monday, after it got U.S. approval for its weight-loss drug Wegovy to treat a serious liver condition, positive news for the drugmaker that lost more than one-third of its market value in recent weeks.

Novo Nordisk stock rallies as the Danish pharma giant makes two big announcements. TD Cowen analysts recommend buying NVO shares on the year-to-date weakness.

The string of negative updates from Novo Nordisk and positive news flow from the main competitor Eli Lilly has finally ended this month. Novo Nordisk faces near-term challenges from semaglutide compounders and Eli Lilly, but the recent FDA approval for MASH and international expansion offer new growth avenues.

Novo Nordisk shares were climbing Monday after the Food and Drug Administration approved the popular weight-loss drug Wegovy to treat a form of liver disease. The FDA approved Wegovy for use in what’s called noncirrhotic metabolic dysfunction-associated steatohepatitis, or MASH, in adults with moderate to advanced liver fibrosis.

Novo Nordisk shares climbed after the U.S. Food and Drug Administration approved a new indication for the Danish drugmaker’s blockbuster Wegovy medicine to treat a serious fatty liver disease.

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GoodRx is joining the GLP-1 action with an announcement Monday to begin selling both Novo Nordisk's GLP-1 drugs, Ozempic and Wegovy, at a cash price of $499 per month.

The Food and Drug Administration approved Novo Nordisk's popular weight-loss drug Wegovy to treat a form of liver disease. Shares climbed roughly 4.5% in Denmark (read more about [weight-loss drugs' s