Eli Lilly experiences a dip while Novo Nordisk experiences a 5% increase based on promising weight loss trial results.
- According to Reuters, the Phase I trial of the company's highly-anticipated obesity drug amycretin resulted in a 13.1% weight loss in participants after 12 weeks.
- Since the beginning of the year, shares of Novo Nordisk have experienced a gain of more than 26%, thanks to the growing demand for its popular anti-obesity drugs, Wegovy and Ozempic.
On Thursday morning, Novo Nordisk's shares increased by 5%, reaching new record highs, following the release of positive early trial data for a new experimental weight loss drug by the Danish pharmaceutical company.
The Phase I trial of the company's highly-anticipated obesity drug amycretin resulted in a 13.1% weight loss in participants after 12 weeks, surpassing the 6% loss recorded after a 12-week trial for the company's wildly popular obesity drug Wegovy, according to Reuters.
The company announced that a Phase II trial will commence in the second half of this year, with anticipated results in early 2026.
Since the beginning of the year, the market value of Novo Nordisk, Europe's largest corporation, has increased by more than 27%. This growth is due to the continued success of the company's anti-obesity drugs, Wegovy and Ozempic, which have experienced high demand.
This week, Novo announced that Ozempic reduced the risk of kidney disease progression and death from kidney or cardiovascular complications by 24% in diabetic patients with chronic kidney disease.
The broader health benefits of Ozempic and similar drugs, beyond weight loss and Type 2 diabetes treatment, are supported by the accumulating evidence.
In after-hours trading, the American rival's shares decreased by 1.3% following the news.
Business News
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