Becton falls; J.P. Morgan says Novo Nordisk's bullish commentary on Wegovy pill is overdone

Becton Dickinson and

23/01/2026 17:30

** Shares of drug delivery device maker Becton Dickinson BDX.N fall 2.8% to $200.85 in afternoon trading

** Novo Nordisk's NOVOb.CO bullish commentary on the ramp up of its oral Wegovy obesity drug led to fears of "cannibalization" from the traditional injectable market, J.P. Morgan analysts say

** "On the one hand, strong demand for oral GLP-1s could serve as an incremental challenge for Becton Dickinson's aspirations of leveraging its expertise in prefillable syringes in GLP-1 biologics"- J.P. Morgan

** BDX makes drug delivery devices like prefilled syringes and autoinjectors used for injectable GLP-1 drugs such as Novo's Ozempic and Wegovy

** Rapid uptake of oral drugs could reduce demand for BDX's products

** Despite this, brokerage expects injectables to play an important role in the obesity treatment paradigm, adding that orals will be mostly used for maintenance

** BDX stock dipped 14.5% in 2025

 (Reporting by Padmanabhan Ananthan)

 ((Padmanabhan.Ananthan@thomsonreuters.com))