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Shares of Novo Nordisk slipped in Monday morning buying and selling after the corporate introduced outcomes of its newest weight-loss drug trial.
Novo’s outcomes from its Redefine 2 late-stage trial of CagriSema confirmed that sufferers on the very best dose of the drug misplaced 15.7% of their weight. Sufferers who had been positioned on the placebo misplaced 3.1%, in keeping with the information.
The trial included 1,206 folks with weight problems or who had been obese and had kind 2 diabetes. They’d a imply baseline physique weight of about 224 kilos.
Shares of the Danish pharmaceutical big fell greater than 9% after the corporate launched the outcomes.
Wall Road had been eyeing the outcomes of the trial to see how the drug in comparison with the corporate’s different medicine, Ozempic, which is accredited by the FDA for diabetes, and Wegovy, which is accredited for persistent weight administration.
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In December, the corporate noticed its market worth drop by as a lot as $125 billion following the outcomes of a separate trial, Redefine 1, of CagriSema in obese or overweight sufferers with out kind 2 diabetes.
Headquarters of pharmaceutical firm Novo Nordisk in Copenhagen, Denmark, on Sept. 26, 2023. (Tom Little/File picture / Reuters Pictures)
Within the newest trial that spanned 68 weeks, 61.9% of sufferers got the very best dose of the drug, which mixes the GLP-1 agonist semaglutide, the lively ingredient in Wegovy and Ozempic, and a cagrilintide, an artificial model of the hormone amylin, which is launched by the pancreas.
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Cagrilintide is presently being developed together with semaglutide to see if it helps obese and overweight folks obtain sustained weight reduction.
Novo mentioned it’s going to element outcomes from each trials that will likely be offered at a scientific convention in 2025, and expects to file for the primary regulatory approval of CagriSema within the first quarter of fiscal yr 2026.
Wegovy is an injectable prescription weight-loss drugs that has helped folks with weight problems. (Michael Siluk/UCG/Common Pictures Group through / Getty Pictures)
“The Redefine 2 results confirmed the superior efficacy of CagriSema in people with overweight or obesity and type 2 diabetes,” mentioned Martin Holst Lange, govt vice chairman for improvement at Novo Nordisk. “We look forward to bringing this second pivotal trial to regulatory authorities with the aim of making this next-generation therapy available to the millions of patients in need.”
Novo Nordisk and Eli Lilly have been ramping up their choices and creating direct-to-consumer platforms for sufferers with out insurance coverage to spice up demand as competitors within the extremely profitable market stiffens.
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Novo’s income exceeded Wall Road expectations in its newest fiscal quarter, but it surely forecast slower gross sales progress in 2025, partly attributable to rising competitors.
Ticker Safety Final Change Change % LLY ELI LILLY & CO. 869.58 -43.18
-4.73%
NVO NOVO NORDISK A/S 79.92 -7.27
-8.34%
Final week, Novo minimize the price of its blockbuster weight-loss drug Wegovy in half for U.S. sufferers paying money by way of its direct-to-patient on-line pharmacy to try to enhance gross sales.
The corporate’s announcement got here simply after Lilly introduced it’s increasing the provision and chopping the prices of its weight-loss drug Zepbound, once more, successfully broadening entry to extra sufferers with out insurance coverage with its personal self-pay pharmacy.
Reuters contributed to this report.
