Novo Obesity Pill Spurs Rally After Stock’s Worst Ever Year

Novo Nordisk A/S shares are bouncing back from their worst ever year, with bulls hoping that a pill version of its blockbuster obesity shot will help finally turn things around for the Danish drugmaker.

The stock has gained 14% so far in January, set for its best month since August. Novo started selling its Wegovy pill a few weeks ago, beating rival Eli Lilly & Co. to market and boosting sentiment after a string of bad news pummeled the shares last year.