Novo Nordisk shares climbed after the U.S. Food and Drug Administration approved a new indication for the Danish drugmaker’s blockbuster Wegovy medicine to treat a serious fatty liver disease. Shares in Novo Nordisk rose as much as 5% in early European trading Monday,

Shares in Novo Nordisk rose on Monday, after it got U.S. approval for its weight-loss drug Wegovy to treat a serious liver condition, positive news for the drugmaker that lost more than one-third of its market value in recent weeks.

Novo Nordisk A/S shares advanced after the drugmaker’s blockbuster weight-loss drug Wegovy received US approval to treat a serious form of liver disease, beating rival Eli Lilly & Co. to the US market.