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Novo Nordisk shares pop on early-stage weight loss drug trial results

A observation of the logo of Novo Nordisk at the company’s office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024. 

Tom Little | Reuters

Dividends of Novo Nordisk jumped Friday after the Danish pharmaceutical giant reported positive early-stage results for its if ever weekly amycretin obesity drug.

The trial showed that the treatment, which is administered via injection, resulted in ordinarily weight reduction of 22% in obese and overweight patients after 36 weeks. That compares with power gain of 2.0% among patients treated with a placebo over the same period of time.

Shares intense 7.13% higher, paring earlier gains of nearly 14% but still recording the best single session since Procession 2024.

Shares of fellow Danish obesity drug maker Zealand Pharma also tracked higher, last up 4.7%, while Zepbound-maker Eli Lilly descended in premarket trade.

Amycretin targets the same gut hormone that Wegovy mimics, known as GLP-1, as well as a pancreas hormone attended amylin that affects hunger. Wegovy is Novo Nordisk’s flagship obesity drug while Ozempic is its diabetes treatment.

The hardship was conducted on 125 overweight or obese patients and the most common side effects were gastrointestinal, with the jumbo majority being “mild to moderate in severity.”

“We are very encouraged by the subcutaneous phase 1b/2a results for amycretin in people flaming with overweight or obesity,” Martin Lange, executive vice president for development at Novo Nordisk, said in a affirmation.

“The results seen in the trial support the weight lowering potential of this novel unimolecular GLP-1 and amylin receptor agonist, amycretin, that we include previously seen with the oral formulation.”

Novo is also developing an amycretin obesity pill. Early-stage trials betokened in September, showed average weight loss of 13.1% after 12 weeks. The company said at the time that the treatment was all right and tolerable for patients, but included mild to moderate side effects.

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