What's Going On With Novo Nordisk Stock Today?
Portfolio Pulse from Vandana Singh
Novo Nordisk A/S (NYSE:NVO) released results from the SELECT phase 3 trial of semaglutide (Wegovy) at the AHA Scientific Sessions, showing a 20% risk reduction in MACE for patients with CVD and obesity without diabetes. The drug also reduced the risk of non-fatal heart attack by 28%, non-fatal stroke by 7%, and progression to diabetes by 73%. However, 17% of participants discontinued due to gastrointestinal issues. NVO shares dropped 2.90% to $98.26.
November 13, 2023 | 3:17 pm
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Novo Nordisk's Wegovy demonstrated significant cardiovascular benefits in a phase 3 trial, but shares fell due to concerns over discontinuation rates from side effects.
The positive trial results for Wegovy are likely to be seen as a long-term positive for Novo Nordisk, indicating potential for increased market share and revenue in the cardiovascular and obesity treatment markets. However, the short-term impact on the stock price is negative, likely due to investor concerns over the high discontinuation rate in the trial, which could affect the drug's commercial success. The 2.9% drop in share price reflects these immediate market reactions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100