Novo Nordisk shares climbed after a study published in Lancet Psychiatry found that patients with both schizophrenia and type 2 diabetes who received GLP-1 receptor agonists had a significantly lower rate of psychiatric hospitalization.
The findings suggest a potential use for GLP-1 drugs beyond diabetes and weight loss, including Novo Nordisk’s Ozempic and Wegovy. They do not establish that the drugs caused the lower hospitalization rate.
The stock rebounded after a recent pullback. Investors also bought the dip, while the company’s ongoing share repurchases provided another source of support.