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,

The firm was granted U.S. approval for the treatment of metabolic dysfunction-associated steatohepatitis in adults with moderate to advanced liver fibrosis.

The U.S. Food and Drug Administration (FDA) has approved Novo Nordisk's popular weight-loss drug Wegovy to treat a serious form of fatty liver disease.