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Stocks in Novo Nordisk fell on Monday at the second row worse than expected experiments for the latest cure for obesity from the Blockbuster treatment manufacturer Orempic and Wegovy.
The Kugrisem test in patients who were obese or excessively, and the type 2 diabetes showed no clear superiority of rivals Eli Lilly, analysts said. The Cagrisema Group had an average loss of weight of 15.7 percent of body weight after 68 weeks on the drug, compared to 3.1 percent for a group that took placebo, Novi Nordisk said.
NEW -THE’S PRICE OF THE SHARE FALL ON MONDAY 8 percent, previously Dived in December After a late test of Cagrisem at overweight or obese people without diabetes, they found that they lost an average of 22.7 percent of their body weight. It was only slightly in front of the results for Mounjar, the existing rival treatment Eli Lilly.
Cagrisema “weakened the expectations again” by not being able to surpass Zepbound, another Lilly remedy, according to a note published by William Blair Equity Research.
“Going to read, we believed that adults living with overweight or obesity and type 2 diabetes represent the patient’s segment for which Cagrisema has the best opportunity to surpass Zepbound,” the note said. “Therefore, we believe that today’s results are particularly disappointing.”
Novo Nordisk remains optimistic towards Cagrisema, his leading heir to medicine on the loss of weight loss. Executive director Lars Fruergaard Jørgensen said earlier that the drug was “really important” for the company.
The latest results “have confirmed the superior effectiveness of Cagrisem in people with overweight or obesity and type 2 diabetes,” said Martin Holst Lange, executive vice president of Novi Nordiska for development.
The examination examined the effects of the weekly injection of Kugrisema opposite the placebo, in a group of 1,200 participants with a medium basic body weight of 102 kilograms. Patients were allowed to change the drug intake, with 61.9 percent of them completed at the maximum dose.
Nearly 90 percent of Cagrisem patients have achieved a loss of weight of 5 percent or more, compared to just over 30 percent of those on the placebo.
According to Evan David Seigerman of BMO Capital Markets, the results are leaving a company that is still looking for the next major breakthrough after semaglutide, an active ingredient in Orempic and Wegovy.
“Today’s reading continues to pressure the story for a new section because investors are looking for a company to identify the clear path of succession beyond semaglutids,” he wrote.
