Novo Nordisk A/S’s shares plummeted by 27% after its obesity treatment failed to meet expectations in a key trial. The drug helped patients lose weight, but the results fell short of the predicted target. While the drug's results were similar to rival Eli Lilly & Co.’s Zepbound, Novo’s disappointment raised concerns about its position in the growing weight-loss market. The company plans further trials to boost the drug's effectiveness and expects regulatory approval by late 2025.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Novo Nordisk's shares plummeted by a record 27% after its obesity treatment
00:06failed to meet expectations in a key trial. The drug outpatients lose weight,
00:10but the results fell short of the predicted target. While the drug's results were similar
00:14to rival Eli Lilly's ZepBound, Novo's disappointment raised concerns about its
00:18position in the growing weight loss market. The company plans further trials to boost
00:22the drug's effectiveness and expects regulatory approval by late 2025.
00:26For all things money, visit Benzinga.com slash GSTV.