Packages of the weight-loss drug Wegovy from the pharmaceutical firm Novo Nordisk lie on the gross sales counter in a Danish pharmacy.
Stefan Trumpf | Picture Alliance | Getty Images
Shares of Danish drugmaker Novo Nordisk soared on Tuesday, after late-stage trial knowledge confirmed that its weight problems drug Wegovy decreased the chance of main cardiovascular occasions corresponding to coronary heart assaults or strokes by 20%, in contrast with a placebo.
The outcomes of the carefully watched “SELECT” trial, which exceeded analyst expectations, have been seen as a significant enhance for the agency’s hopes of transferring past Wegovy’s picture as a “vanity drug.”
Shares of Novo Nordisk rose almost 16% throughout mid-morning offers, earlier than paring positive factors. The inventory was final seen buying and selling 14% larger at 12:55 p.m. London time (7:55 a.m. ET).
The double-blind trial started virtually 5 years in the past and concerned greater than 17,600 adults with established heart problems who have been chubby or suffered from weight problems, however had no prior historical past of diabetes.
The headline outcomes present that the weekly injection of semaglutide 2.4 mg achieved its main objection of lowering the chance of cardiovascular occasions, corresponding to coronary heart assaults or strokes, by 20% in contrast with a placebo. Wegovy incorporates 2.4mg of semaglutide.
Investors and analysts had informed Reuters {that a} danger discount of between 15% to 17% can be interpreted as a optimistic end result for the blockbuster weight reduction drug.
Martin Holst Lange, government vp for improvement at Novo Nordisk, stated that the outcomes confirmed that the corporate’s weight problems drug “has the potential to change how obesity is regarded and treated.”
“People living with obesity have an increased risk of cardiovascular disease but to date, there are no approved weight management medications proven to deliver effective weight management while also reducing the risk of heart attack, stroke or cardiovascular death,” Holst Lange stated in an announcement.
“Therefore, we are very excited about the results from SELECT showing that semaglutide 2.4 mg reduces the risk of cardiovascular events.”
The firm stated it expects to file for regulatory approvals of a label indication enlargement for Wegovy within the U.S. and European Union this yr.
Emily Field, head of European prescription drugs fairness analysis at Barclays, informed CNBC final month that the outcomes of Novo Nordisk’s SELECT trial amounted to an essential litmus take a look at for the well being business.
In the occasion that the drug was discovered to have wider-reaching functions, together with cardiovascular advantages, Field stated that it was extra doubtless that it may very well be adopted beneath mainstream healthcare insurance policies.
Public well being companies “don’t want to pay for it, if it won’t tackle underlying health conditions,” she stated.
The detailed outcomes from the SELECT trial shall be introduced at a scientific convention later within the yr, Novo Nordisk stated, with out totally disclosing the timeline.
— CNBC’s Karen Gilchrist contributed to this report.
Source: www.cnbc.com”