Novo Nordisk A/S (NVO): "Canada's A Backdoor," Says Jim Cramer

We recently published 14 Stocks Jim Cramer Discussed As He Talked About Record Bitcoin Price. Novo Nordisk A/S (NYSE:NVO) is one of the stocks Jim Cramer recently discussed.

Novo Nordisk A/S (NYSE:NVO) is a Danish pharmaceutical company that was one of the earliest movers in the weight loss drug market. The shares have lost 21% year-to-date due to multiple headwinds. These include investor worries about the firm lagging behind US pharma giant Eli Lilly in the weight loss drug market, the surprise departure of its CEO, and troubles with its CagriSema weight loss drug’s trial. Cramer’s previous remarks about Novo Nordisk A/S (NYSE:NVO) have wondered why the firm fell behind Eli Lilly and hoped that activist investor interest in the firm would yield positive results. This time around, he discussed the firm’s decision to let its weight loss drug patent expire in Canada:

“By the way, nod there to Brandon Gomez, really, really good piece that Novo Nordisk, did not file, I think it’s patent correctly in Canada. And Canada’s a backdoor, Hims & Hers is right there.”

Cramer’s previous remarks about Novo Nordisk A/S (NYSE:NVO) discussed the firm’s weight loss drug business and activist investor interest:

[On activist fund Parvus building a stake in the company] How could they be so far behind? You know they were first, they were first mover. And then Lilly came along, Lilly by the way, still a great stock. But maybe this is going to shake up Novo.

“How about better science?. . . Because they fell behind Lilly!”

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Disclosure: None. This article is originally published at Insider Monkey.