Novo Nordisk slumps to almost 5-yr lows after obesity drug trial disappoints investors
Shares in Novo Nordisk NOVOb.CO slump 16% after the Danish pharmaceutical giant said its experimental obesity drug failed to meet the primary endpoint in a trial designed to show non-inferiority to Eli Lilly's LLY.N tirzepatide in reducing weight
*Novo Nordisk said CagriSema achieved a 23% reduction in body weight over 84 weeks, compared to 25.5% for tirzepatide in the trial
J.P.Morgan says today's "disappointing" results likely will curtail the competitiveness of the product in the market
"Inferiority to Zepbound means it is unlikely to help Novo retake market share in obesity," it adds
Nordnet's Per Hansen says disappointing news means CagriSema is a big letdown to investors
The stock hits its lowest level since June 2021, when the Danish company officially launched its Wegovy drug in the U.S.
Peer Zealand Pharma's ZELA.CO shares fall 6%
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