Jim Cramer on Novo Nordisk: "It Seems Eli Lilly's Eating Their Lunch"

Novo Nordisk A/S (NYSE:NVO) is one of the stocks Jim Cramer commented on. Cramer highlighted the company’s post-earnings decline, as he remarked:

What went wrong at Novo Nordisk? Yesterday, the Danish drug maker behind Ozempic reported, and the stock plunged nearly 15% before sinking another 6% today. While the quarter was fine, the guidance, let’s just say it was brutal. They’re talking about a 5% to 13% sales hit this year, thanks to pricing pressures amid fierce competition for the GLP-1 business. It seems Eli Lilly’s eating their lunch, even if it is a lunch that has no taste, an inevitable result of all GLPs.

Novo Nordisk A/S (NYSE:NVO) manufactures pharmaceuticals for chronic conditions, including diabetes, obesity, and rare blood or endocrine disorders. The company also produces some medical devices. Cramer shared his thoughts on the stock when a caller inquired about it during the January 29 episode. The Mad Money host commented:

I kind of liked it when I spoke to them. I gotta tell you, I kind of warmed up… I was in San Francisco, and I said, you know what? I get that stock a little down more… But I love Eli Lilly and David Ricks, and what can I say? You know, as long as Eli Lilly and David Ricks are putting up those numbers and they get that pill form soon, I think that Novo is a hold, not a buy.

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