Custom Care Medical Internal Medicine Dr. Frank Contessa will be taking part in “Varney & Co.” to consider the White House's latest proposals on Medicaid and Medicare to cover obesity medications.
Novo Nordisk's shares slipped down in trading Monday morning after the company announced the results of its latest weight loss pill trial.
Results from Novo's Cagrisema's two-stage late trial showed that patients with the highest dose of the drug lost 15.7% of their body weight. Data show that 3.1% of patients placed on a placebo lost.
The trial included 1,206 obese people or overweight people with type 2 diabetes. They averaged around 224 pounds of their baseline weight.
The Danish pharmaceutical giant's shares fell more than 9% after the company announced the results.
Wall Street was paying attention to the outcome of the trial to see how the drug was approved compared to other drugs of the company approved by the FDA for diabetes, Wegovy, which was approved for chronic weight management and Ozempic, which was approved.
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In December, the company fell its market value by $125 billion following the results of another trial of Cagrisema in overweight or obese patients without type 2 diabetes.
On September 26th, 2023, the headquarters of Novo Nordisk, a pharmaceutical company in Copenhagen, Denmark. (Photo by Tom Little/file Photo/Reuters)
In the latest 68-week trial, 61.9% of patients received the highest dose. It combined the GLP-1 agonist semaglutide, the active ingredients of Wegovy and Ozempic, and Cagrilintide, a synthetic version of the hormone amylin released by the pancreas.
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Cagrilintide is currently being developed in conjunction with semaglutide to see if it helps people who are overweight and obese achieve sustained weight loss.
Novo said it would detail the results of both trials to be presented at the 2025 Science Conference and will apply for Cagrisema's first regulatory approval in the first quarter of 2026.
Wegovy is an injectable prescription weight loss medicine that helped obese people. (Michael Siluk/UCG/Universal Images group/Getty Images)
“We're excited to announce that we're a great opportunity to develop a new development,” said Martin Holst Lange, Vice President of Development at Novo Nordisk. “We look forward to bringing this second, vital trial to regulators with the aim of making this next-generation therapy available to millions of patients in need.”
Novo Nordisk and Eli Lilly have bolstered their offerings and created a direct consumer platform for uninsured patients, increasing demand as competition as a highly favorable market hardening.
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Novo's revenue exceeded Wall Street's expectations in the latest fiscal quarter, but it expects sales growth to slow in 2025, partly due to increased competition.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| lly | Eli Lilly & co. | 869.58 | -43.18 |
-4.73% |
| NVO | Novo Nordisk a/s | 79.92 | -7.27 |
-8.34% |
Last week, Novo cut that cost Big hit weight loss drug Wegovy pays cash directly through patients' online pharmacies for US patients to pay cash to promote sales.
The company's announcement comes shortly after Lily announced it would expand supply and reduce the costs of Zepbound, a weight loss drug.
Reuters contributed to this report.
