Novo Nordisk Stock Drops as Heart Drug Fails in Key Trial
Novo Nordisk shares fell nearly 9% after its experimental heart drug, ziltivekimab, failed to reduce major adverse cardiovascular events (MACE) in a pivotal Phase 3 trial. The ZEUS study showed no significant difference between the treatment and placebo groups with a hazard ratio of 0.99. While the drug demonstrated expected biological effects by inhibiting inflammation, it did not lead to fewer heart attacks or strokes. The failure undermines Novo Nordisk's strategy to diversify beyond its core obesity and diabetes treatments, which account for over 90% of sales. The company will record a non-cash impairment charge but maintains its profit outlook for the year. Two additional trials are ongoing, though analysts have grown skeptical about their success. Ziltivekimab was acquired in Novo's $725 million purchase of Corvidia Therapeutics and had been projected to reach peak annual sales of around $3 billion.
Tickers: $NVO