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VIP Wealth Hub
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Quant Fund
Top asset management team helps you profit without hassle
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The weight loss effect of Novo Nordisk's new drug is not as expected, big dump before the US stock market opens
On December 20th, Jinshi data reported that Novo Nordisk announced on Friday that its experimental next-generation weight-loss drug CagriSema helped overweight patients lose 22.7% of their weight in late-stage trials, lower than the expected 25%, which caused a significant fall in the company’s stock price. This lower-than-expected data is a blow to Novo Nordisk, which had hoped that CagriSema would be a more powerful product than its previous generation weight-loss drug Wegovy, to replace it. Investors and analysts have been eagerly awaiting these data to test whether Novo Nordisk has a strong follow-up product to replace Wegovy in the fiercely competitive anti-obesity market. After the results were announced on Friday, Novo Nordisk’s stock price fell big dump by 22% in pre-market trading on the US stock market.