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 Danish pharmaceutical giant Novo Nordisk plummeted more than 24% on Friday, putting it on course for its worst-ever daily loss.
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.
The trial results deal a blow to expectations that CagriSema could become a next-generation obesity drug. The two-drug injectable treatment combines semaglutide, the active ingredient in Wegovy, along with amylin analog Cagrilintide, a nascent form of weight loss treatment.
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