Novo Nordisk stock jumped Monday after the FDA approved the company's obesity drug, Wegovy, as a treatment for MASH.

The FDA clearance sets Novo’s medicine up a market battle with Madrigal Pharmaceuticals’ fast-selling Rezdiffra.

Novo Nordisk said on Friday the U.S. Food and Drug Administration has granted accelerated approval for its weight-loss drug Wegovy to treat a serious liver condition called metabolic dysfunction-associated steatohepatitis,