Novo Nordisk Shares Jump 7.13% as OBESITY Drug Shows Promise
Shares of Novo Nordisk rose 7.13% on Friday after the Danish pharmaceutical giant reported positive early-stage results for its once weekly amycretin obesity drug. The treatment, administered via injection, resulted in average weight reduction of 22% in obese and overweight patients after 36 weeks, compared to a 2.0% weight gain among patients treated with a placebo over the same period.
The trial, conducted on 125 overweight or obese patients, showed that the most common side effects were gastrointestinal, with the vast majority being “mild to moderate in severity.” Novo Nordisk’s executive vice president for development, Martin Lange, expressed encouragement with the results, saying they support the weight-lowering potential of amycretin.
The company is also developing an oral version of the treatment, which showed average weight loss of 13.1% after 12 weeks in early-stage trials. Novo Nordisk reported that the treatment was safe and tolerable for patients, with mild to moderate side effects.
The news lifted not only Novo Nordisk’s shares but also those of fellow Danish obesity drug maker Zealand Pharma, which rose 4.7% in premarket trading. Eli Lilly, however, dipped in premarket trade. Amycretin targets the same gut hormone as Wegovy, a hormone that mimics GLP-1, as well as a pancreas hormone called amylin that affects hunger.