This is a fundamental analysis of Novo Nordisk. The company's sales in US operations increased by 12% in Danish kroner (15% at CER). The sales within diabetes and obesity care increased by 12% in Danish kroner. The US FDA approved an indication for Wegovy for the treatment of MASH. The company is trying to make an acquisition in the weight loss treatment category. Sales and operating profit growth reported in Danish kroner is now expected to be 4 and 6 percentage points lower at CER. Novo Nordisk reduces the global workforce by approximately 9,000, with around 5,000 reductions in Denmark. The analyst adds 25% of risk to the beta. The intrinsic value per share is 116.32 and the analyst recommends a buy.