{ }
UBS analyst Trung Huynh reports that Novo Nordisk's CagriSema Phase 3 obesity data fell short of expectations, achieving a 20.4% average weight loss compared to the anticipated 25%. This outcome is seen as favorable for Eli Lilly and Amgen, reinforcing tirzepatide's leading position in the market. The analysis suggests that CagriSema's efficacy aligns more closely with MariTide, which may present gastrointestinal issues and a less appealing monthly titration regimen.
UBS analyst Trung Huynh reports that Novo Nordisk's CagriSema Phase 3 obesity data fell short of expectations, achieving a 20.4% average weight loss compared to the anticipated 25%. This outcome is seen as favorable for Eli Lilly and Amgen, reinforcing tirzepatide's leading position and suggesting CagriSema's efficacy aligns more closely with MariTide, which may have gastrointestinal side effects.
U.S. stocks rebounded on Friday, with the S&P 500 and Dow Jones Industrial Average both rising 1.4%, as better-than-expected inflation data eased concerns over interest rate cuts. Despite this, the market remains cautious amid political uncertainty and potential global trade challenges. Notable declines included U.S. Steel, down 4.9%, and Novo Nordisk, which fell 17% after disappointing news on a weight-loss treatment.
The Dow Jones Industrial Average surged nearly 400 points, reversing a 10-day losing streak, as investors reacted positively to a lower-than-expected inflation report, despite looming government shutdown concerns. Nvidia's stock attempted a recovery, while shares of Trump Media and Technology fell sharply after the president-elect moved shares to a revocable trust. FedEx initially soared over 20% on earnings but later declined, while Carnival's stock rose 3% following better-than-expected quarterly results.
Novo Nordisk experienced a significant drop in stock value, plummeting over 22% after clinical trial results for its weight-loss drug Cagrisema fell short of expectations, with participants losing an average of 22.7% of their weight compared to the anticipated 25%. Despite a 21% rise in net profit in the previous quarter and strong sales for its other products, the company faces increasing competition and production capacity challenges. The World Obesity Federation forecasts a growing market for weight-loss treatments, highlighting the potential for future growth amid rising obesity rates globally.
Novo Nordisk's shares plummeted over 21% following disappointing results from the Phase 3 trial of its obesity drug CagriSema, which achieved a 22.7% average weight reduction, falling short of the expected 25%. Analysts have reacted with downgrades, citing safety concerns and underperformance compared to competitors. Despite achieving primary study objectives, the market's response reflects significant investor disappointment.
UBS has maintained a "Neutral" rating for Novo Nordisk, setting a target price of 1,100 Danish crowns. Analyst Jo Walton highlighted disappointing results for the weight loss drug Cagrisema, which showed a 20.4% reduction, falling short of the expected 25%. Future focus may shift towards availability, tolerability, and convenience of oral administration rather than efficacy.
Wall Street faced volatility as the S&P 500 and Nasdaq marked their third consecutive day of losses, while the Dow ended a 10-day losing streak. FedEx surged 8.5% after a strategic spin-off, while Nike shares fell 6% amid a delayed turnaround plan. Novo Nordisk's obesity treatment trial results disappointed, causing its stock to drop, while Berkshire Hathaway increased its stake in Occidental Petroleum.
Nestle has launched a new protein shot designed to aid weight loss by helping manage hunger and naturally boost GLP-1 hormone levels. Meanwhile, the FDA has declared the shortage of tirzepatide, the active ingredient in Eli Lilly’s Zepbound, over, impacting the weight-loss drug market. The rise in popularity of medications like Wegovy and Zepbound is also leading to increased healthcare utilization in the U.S., with more patients being diagnosed and prescribed for various conditions.
BioAge Labs has entered a multi-year partnership with Novartis to tackle age-related diseases, potentially worth up to $550 million. The collaboration will leverage BioAge's human longevity datasets and Novartis's expertise in exercise biology to discover new therapeutic targets and explore the biological mechanisms of aging. This agreement follows BioAge's recent IPO and the discontinuation of a phase 2 obesity trial due to safety concerns.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.