December 20, 2024 5:22 PM

Novo Nordisk shares plunge after CagriSema obesity drug trial disappoints

Novo Nordisk said on Friday its experimental next-generation obesity drug CagriSema helped patients cut their weight by 22.7% in a late-stage trial, below the 25% it had expected, wiping as much as $125 billion off its market value. The lower-than-expected weight loss from the drug candidate deals a blow to the Danish company's ambitions for a successor to its popular Wegovy that is more powerful than Eli Lilly's rival Zepbound, also known as Mounjaro. Investors and analysts had eagerly awaite...