M&G’s Kelly Bets on Former Highflyers Like Novo to Trounce Peers


Novo, the Danish obesity drugs pioneer, is down 20% from its peak in January and trades at 15 times forward price-to-earnings, below its five-year average of 26. He believes the market is underestimating the strength of the franchise and the industry’s long term-growth potential as treatments become more affordable.



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