Novo Nordisk shares plummeted roughly 20% on Friday after a late-stage trial for its experimental weight loss drug CagriSema missed expectations. The Danish pharmaceutical giant reported that the treatment helped patients reduce their weight by 22.7%, below the 25% forecast.
However, Novo said in comments to CNBC that CagriSema outperformed its widely popular Wegovy obesity drug in weight reduction and achieved results “on par with best-in-class treatments.” The company plans to further explore the treatment’s potential based on insights from the trial.
CagriSema combines semaglutide, an active ingredient in Wegovy, with amylin analog Cagrilintide. A phase three trial involving 3,400 people with obesity or overweight comorbidities found that just 57% of patients reached the highest dose of CagriSema.
Despite the disappointing results, analysts see potential for other weight loss treatments, including an emerging class of amylin analog drugs. JPMorgan expects a partnership between Zealand Pharma and its Petrelintide drug to happen as soon as next year.
The weight loss market continues to heat up with more players joining the fray amid surging demand. Novo Nordisk faces competition from Eli Lilly’s Zepbound, which has shown superior weight loss results in head-to-head clinical trials.
Source: https://www.cnbc.com/2024/12/20/novo-nordisk-shares-plunge-22percent-after-cagrisema-obesity-drug-trial-results.html