Novo Nordisk Shares Plunge After CagriSema Obesity Drug Trial Disappoints

Novo Nordisk Shares Plunge After CagriSema Obesity Drug Trial Disappoints
The logo of Novo Nordisk at the company's office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, on March 8, 2024. Tom Little/Reuters
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Novo Nordisk said on Friday its experimental next-generation obesity drug CagriSema helped overweight patients cut their weight by 22.7 percent in a late-stage trial, below the 25 percent it had expected, sending its shares down sharply.

The lower-than-expected weight loss from the drug candidate deals a blow to the Danish drugmaker’s ambitions for a successor to its popular Wegovy more powerful than Eli Lilly’s Zepbound.