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,

Novo Nordisk said on Monday that it would make the drug available through its direct pharmacy service for $499 per month, compared to a list price of just under $1,000 per month.

“While Ozempic is well covered in the US, let’s not forget that there are some patients who pay out-of-pocket for this vital medicine,” Dave Moore, executive vice president, of Novo Nordisk’s US oper...