Shares of Novo Nordisk climbed almost 5% Monday after the company's blockbuster Wegovy obesity drug received accelerated approval from the U.S. Food and Drug Administration to treat a serious liver disease.

The company on Friday said that it was granted approval for the treatment of metabolic dysfunction-associated steatohepatitis (MASH) in adults with moderate to advanced liver fibrosis, in combination with a reduced calorie diet and increased physical activity.

Novo Nordisk shares were up 5.46% by 10:43 a.m. London time (5:43 a.m. E.T.).

The approval makes Wegovy the first GLP-1 class treatment to be authorized for MASH, a progressive liver condition that affects an estimated 5% of U.S. adults, according to the American Liver Foundation.

It also advances the drug's applicat

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