Shares of Danish pharmaceutical giant Novo Nordisk plummeted more than 24% at one point on Friday after reporting trial results that missed expectations.
Shares of Novo Nordisk plummeted more than 24% at one point on Friday. By 12:30 p.m. London time the stock was around 18.8% lower, and shares of Eli Lilly jumped in U.S. pre-market trade.
In comments to CNBC, however, Novo said that CagriSema had outperformed Wegovy in weight reduction and that its performance was"on par with best-in-class treatments."plummeted more than 24% at one point on Friday after reporting results in a late-stage trial for its experimental CagriSema weight loss drug that missed expectations.The maker of the wildly popular Wegovy obesity drug said its new drug candidate helped patients reduce their weight by 22.
In comments to CNBC, however, Novo said that CagriSema had outperformed Wegovy in weight reduction and that its performance was"on par with best-in-class treatments.""We are encouraged by the weight loss profile of CagriSema demonstrating superiority over both semaglutide and cagrilintide in monotherapy in the REDEFINE 1 trial.
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