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Danish pharmaceutical giant Novo Nordisk posted positive early trial data for a new experimental weight-loss drug, sending its shares up 8% to a new high on Thursday.
The company said at an investor conference that a phase I trial of its highly anticipated obesity drug doxorubicin showed participants lost 13.1% of their weight after 12 weeks, Reuters reported. The reading surpassed the 6% loss recorded after a 12-week trial for the company’s popular obesity drug Wegovy.
Phase 2 trials will begin in the second half of this year, with results expected in early 2026, the company said.
Shares in Novo Nordisk, Europe’s largest company by market value, have risen more than 27% since the start of the year as the pharmaceutical giant continues to benefit from strong demand for its flagship anti-obesity drugs Wegovy and Ozempic.
Earlier this week, Novo reported late-stage trial results showing Ozempic reduced the risk of kidney disease progression and death from renal or cardiovascular complications by 24% in diabetic patients with chronic kidney disease.
These results add to evidence that Ozempic and similar drugs have broader health benefits beyond weight loss and type 2 diabetes treatment.
Yuri Khodjamirian, chief investment officer of Tema ETF, said: “Despite the results reported by competitors (New Zealand, Virgin) in the past few weeks, Novo Nordisk’s capital markets day today It shows that they are not sitting still and are ready for life after Ozempic.”
“As we always say, safety is key and Novo is awaiting results from the subcutaneous formulation before developing clinical plans. Overall, we think this strengthens Novo’s position as it now has several follow-ups to Ozempic/Wegovy Drugs, of which patents are due to expire in 2031/32, are led by Cagrisema and now Amycretin to help the longevity of their obesity franchises.”
U.S. Competitor Stocks Eli Lilly and Company Affected by this news, the stock price fell 0.8% in early trading.
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