) in the last three months as the Danish drugmaker rides a wave of demand for its diabetes and weight-loss drugs Ozempic and Wegovy.), which has Novo Nordisk among its biggest holdings and total assets of $413.5 million, has seen net inflows of $52.2 million from Aug. 8, according to Lipper data, even as prices fell 2.8%.) has rallied 31.7% since Aug.
“Novo Nordisk is one of the largest contributors to performance,” said Dylan Desai, associate product manager at VanEck. “These drugs introduce a brand new category to the market, and so with that comes really enhanced returns.” As the global obesity crisis gathers pace, Morgan Stanley Research expects the market for obesity drugs to go from a $2.4 billion category in 2022 to $77 billion in 2030, according to a note last month.), a fourth of whose holdings are Novo Nordisk, posted net inflows of $9.8 million so far in October and is on track for its best monthly showing since May.
Price of the Danish fund, however, was down 8.5% from Aug. 7 close, compared to the 9.3% slide in the broader Vanguard European Stock Index Fund (Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.
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