The long-standing edge that Novo Nordisk has held in the obesity drug market was thrown into question Friday when the company reported results of a closely watched candidate that fell short of expectations.
Novo reported that, in a late-stage study, a next-generation obesity drug called CagriSema led patients to lose 20% of their weight at 68 weeks when looking at all participants — less than the company’s own projection of about 25% weight loss. Novo’s stock had tanked by nearly 18% midday Friday.
Investors had high hopes for CagriSema — a combination of semaglutide, the active ingredient in popular treatments Ozempic and Wegovy, and cagrilintide, a treatment that activates amylin and calcitonin receptors. The readout will likely exacerbate concerns about Novo’s ability to follow up on the success of blockbusters Ozempic and Wegovy.
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