UPDATE 3-Novo Nordisk says its obesity drug in higher dose shows 20.7% weight loss
Adds analyst comment and background in paragraphs 5-7
By Sriparna Roy
Jan 17 (Reuters) - Novo Nordisk NOVOb.CO said a higher dose of its drug Wegovy led to greater weight loss in patients during a late-stage trial, but the results fell short of the weight loss achieved with Eli Lilly's rival drug Zepbound, according to analysts.
The Danish drugmaker's U.S.-listed shares dropped 2.8% to $80.72 on Friday, with the company's blockbuster diabetes drug Ozempic and weight-loss treatment Wegovy among the 15 drugs targeted for Medicare price negotiations for 2027 in the United States.
Patients on the once-weekly 7.2 milligram dose of Novo's drug for 72 weeks lowered their weight by 20.7% during the trial, compared with 17.5% for the 2.4 milligram dose and 2.4% for the placebo.
Results from a separate trial that were released in 2022 showed patients taking a high dose of Lilly's LLY.N Zepbound saw more than 20% weight loss.
"The results give us greater confidence in long-term tirzepatide (Zepbound) market share," Leerink Partners analyst David Risinger said on Friday.
Novo's shares have been pressured since last year, when the company also suffered a setback after its experimental drug CagriSema showed lower-than-expected weight loss.
In December, Lilly said patients taking Zepbound lost 47% more weight than those who were given Wegovy in the first large, head-to-head trial of the highly in-demand rival medicines.
Detailed results from Novo's trial testing the higher dose of Wegovy, which contains the active ingredient semaglutide, are expected to be presented at a scientific conference in 2025, according to the Danish drugmaker.
Results from a second late-stage trial testing a 7.2 milligram dose of Wegovy in adults with type 2 diabetes and obesity are expected within the next few months.
(Reporting by Stine Jacobsen in Copenhagen and Sriparna Roy in Bengaluru; Editing by Terje Solsvik and Shounak Dasgupta)
((Sriparna.Roy@thomsonreuters.com))
Related Articles
Should Investors Buy Netflix Stock Before Q4 2024 Earnings?
TradingKey - Streaming content to watch, whether from your TV, smartphone or laptop, has taken off over the past decade. And there’s no bigger player in the streaming space than Netflix Inc (NASDAQ: NFLX).
TSMC Delivers Record High Q4 2024 Profit: Shares Rise 4%
TradingKey - For semiconductor companies, there’s a lot of expectation heading into the latest earnings season as the Artificial Intelligence (AI) hype continues.
U.S. Stocks Surge Wednesday on CPI Data and Strong Bank Earnings
TradingKey - The U.S. stock market rebounded from early January's gloom as core consumer price inflation came in better than expected and some of the largest banks kicked off earnings season on a positive note.
What Impact Will California Wildfires Have on The Stock Market?
TradingKey - Right now in the US, there are ferocious wildfires that are destroying acres of both land and homes in California. Being spread by strong winds, the fires are also heading towards major urban centres, like Los Angeles.
