Reported Earlier, Novo Nordisk Stops The Ocedurenone Clarion-CKD Trial And Recognises Impairment Loss; Clarion-CKD Phase 3 Trial Failed To Meet Its Primary Endpoint; It Will Recognize An Impairment Loss Of Around DKK 5.7 Billion Related To Intangible Asset Ocedurenone In Q2 Of 2024; Corresponds To Estimated Negative Impact Of Around 6 Percentage Points On Operating Profit Growth At CER In 2024 Compared To Operating Profit Outlook Communicated In Q1 Report
Portfolio Pulse from Benzinga Newsdesk
Novo Nordisk has stopped the Ocedurenone Clarion-CKD trial after it failed to meet its primary endpoint. The company will recognize an impairment loss of around DKK 5.7 billion related to the intangible asset Ocedurenone in Q2 of 2024, which is expected to negatively impact operating profit growth by around 6 percentage points at CER in 2024.
June 26, 2024 | 3:25 pm
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Novo Nordisk has halted the Ocedurenone Clarion-CKD trial due to failure in meeting its primary endpoint. The company will recognize an impairment loss of DKK 5.7 billion in Q2 2024, impacting operating profit growth by 6 percentage points.
The failure of the Phase 3 trial and the subsequent impairment loss of DKK 5.7 billion are significant negative events for Novo Nordisk. This will directly impact the company's operating profit growth by 6 percentage points in 2024, likely leading to a short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100