11 Cheap Pharmaceutical Stocks to Buy Now

8. Novo Nordisk A/S (NYSE:NVO)

Forward P/E: 12.29

Number of Hedge Fund Holders: 60

Novo Nordisk A/S (NYSE:NVO) is one of the top cheap pharmaceutical stocks to buy now. On August 1, Bernstein analyst Florent Cespedes maintained a Hold rating on Novo Nordisk A/S (NYSE:NVO) and set a price target of DKK620.00.

The rating came even after Novo Nordisk A/S (NYSE:NVO) announced sales and operating profit growth at constant exchange rates (CER) for the first six months of 2025 on July 29. The company also updated its full-year sales and operating profit outlook at CER.

Novo Nordisk A/S (NYSE:NVO) reported that sales grew 18% and operating profit rose by 29%, both at CER, in the first six months of 2025.

Management stated that gross-to-net sales adjustments related to prior years positively affected sales growth, as well as an adjustment related to the 340B provision of around DKK 3 billion in Q2 2025.

Operating profit growth was driven by the ocedurenone impairment in Q2 2025, partially offset by the effects associated with the acquisition of the three Catalent manufacturing sites.

Novo Nordisk A/S (NYSE:NVO) is a global healthcare company specializing in diabetes care. It develops, discovers, manufactures, and markets pharmaceutical products.

Its operations are divided into two business segments: biopharmaceuticals and diabetes and obesity care. The latter segment covers GLP-1, insulin, and other protein-related products.