Investing.com -- Copenhagen-listed shares in Novo Nordisk (NYSE: NVO) A/S Class B (CSE:NOVOb) rose on Thursday as the Danish pharmaceutical giant used a closely-watched investor event to announce that it is expanding its pipeline of drugs beyond its megapopular weight-loss therapies to include cardiovascular disease treatments.

Novo has been boosted in recent months by the soaring success of its Wegovy obesity drug, which has given the firm an early advantage in an intensifying race between pharmaceutical businesses to secure their position in the burgeoning market for weight-loss treatments. Industry executives and analysts have estimated that these drugs could bring in up to $100 billion in annual sales within a decade.

A large study has also found that Wegovy, which promotes weight loss by mimicking a hormone called GLP-1 that targets areas of the brain responsible for regulating appetite, had a clear cardiovascular benefit as well.

In a presentation, Novo said it is now looking to "build a presence" in emerging treatments for cardiovascular disease, adding that it will aim to strengthen its offerings through "internal and external candidates." It also plans to "maximize" ziltivekimab, a heart failure treatment that is currently under clinical development.

The company noted, however, that "diabetes and obesity remain the key priority areas in the focused corporate strategy."