Novo Nordisk Halts Late-Stage Study Of Experimental Hypertension Drug, Takes Over $800M Impairment Charge
Portfolio Pulse from Vandana Singh
Novo Nordisk (NYSE:NVO) has halted its phase 3 CLARION-CKD trial for the hypertension drug ocedurenone after it failed to meet its primary endpoint. The company will take an impairment charge of around $817 million, impacting its operating profit growth in 2024. Further development of the drug in other indications is being evaluated.
June 26, 2024 | 6:10 pm
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Novo Nordisk has stopped its phase 3 trial for the hypertension drug ocedurenone after it failed to meet its primary endpoint. The company will take an impairment charge of around $817 million, which will negatively impact its operating profit growth in 2024.
The failure of the phase 3 trial and the subsequent $817 million impairment charge are significant negative events for Novo Nordisk. This will likely lead to a short-term decline in the stock price due to the impact on operating profit growth and the halted development of a potentially lucrative drug.
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