Novo Nordisk's (NVO) stock surged 6.56% during Friday's intraday trading session, buoyed by regulatory approval for a higher dose of its blockbuster weight-loss drug, Wegovy.

The UK's Medicines and Healthcare Products Regulatory Agency (MHRA) approved a maximum weekly dose of 7.2 mg of Wegovy, up from the previous 2.4 mg limit. The higher dose, administered as three separate injections, is expected to enhance weight-loss efficacy for patients with obesity (BMI ≥30). This approval strengthens Novo's competitive edge in the rapidly expanding weight-loss market, where it faces rivalry from Eli Lilly's tirzepatide.

Analysts at Berenberg Bank project Wegovy's newly launched pill form could generate $1 billion in sales this year, potentially offsetting headwinds like U.S. price cuts. The firm reiterated its Buy rating and raised Novo's price target to DKK 415, citing upside to consensus estimates.