Novo Nordisk (NYSE:NVO) is one of the most profitable large cap stocks to buy right now. On November 10, Novo Nordisk announced new post hoc analysis data from the ESSENCE Phase 3 trial regarding the company’s drug,

While Eli Lilly stock has surged beyond a $1 trillion market capitalization, Novo Nordisk is having difficulty keeping up, both in growth and pipeline progression.

Novo Nordisk shares tumbled Monday morning after the Danish drugmaker posted the latest results from a drug trial.

As competitive as the obesity drug market has become, Novo Nordisk's decision to slash the prices of its GLP-1 agonist drugs could put it back on the right track. While profit margins may slip due to the price cuts, the company could ultimately benefit more from making its drugs more accessible to patients.

Until the end of March, Novo Nordisk will let people with prescriptions buy the first two doses of the drugs for $199 a month. Then the monthly cost will rise to $349.

Novo Nordisk is chopping prices again for its popular obesity treatment Wegovy, but doctors say the expense will remain challenging for patients without insurance. The drugmaker said Monday that it has started selling higher doses of the injectable treatment for $349 a month to patients paying the full bill.

The Danish drugmaker said it's cutting the price of Wegovy and Ozempic from $499 to $349 per month for some customers who buy the drugs directly.