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☆ Novo Nordisk market cap surpasses Tesla on new obesity pill trial data
▼ + stars: | 2024-03-08 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

Liselotte Sabroe | AFP | Getty ImagesWegovy obesity drug maker Novo Nordisk surpassed Tesla in market value, after fresh early trial data showed positive results for its new experimental weight loss pill. Novo Nordisk is now the 12th most valuable company in the world, with a market cap of $604 billion — ahead of Tesla's $569 billion, according to FactSet data. 8The uptick of Thursday extends a months-long rally for Novo Nordisk, as excitement grows around weight loss drugs and their potential wider applications. The early amycretin data marks a fresh milestone for Novo Nordisk, potentially offering a more effective and less intrusive alternative to its already widely successful injection-based Wegovy and Ozempic drugs. Wegovy showed weight loss of 6% in a 12-week trial, while Ozempic is a diabetes treatment.

Persons: Liselotte Sabroe, Eli Lilly, amycretin, Martin Holst Lange, Lange Organizations: AFP, Getty, Novo Nordisk, Tesla, Microsoft Corp MSFT, Apple Inc, AAPL, NVIDIA Corp NVDA Technology, Saudi Aramco, SA Energy, Inc, AMZN Consumer, GOOGL, Berkshire Hathaway BRK.B, Company LLY Healthcare, Broadcom Inc, AVGO Technology, Taiwan Semiconductor TSM, Novo Nordisk NVO, Finance, JPMorgan Chase JPM, Reuters Locations: Bagsvaerd, Copenhagen, Denmark, Danish, London, Saudi, Mar, Europe

☆ Novo Nordisk to acquire obesity drug maker Inversago Pharma for up to $1 billion
▼ + stars: | 2023-08-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Novo Nordisk on Thursday said it will acquire Inversago Pharma, a privately held obesity drug maker, for up to $1.08 billion to broaden the Danish company's blockbuster weight loss portfolio. The deal's price depends on whether Inversago reaches certain development and sales goals, Novo Nordisk said in a release. Canada-based Inversago develops experimental therapies to treat people with obesity, diabetes and other conditions affecting the body's metabolism. Meanwhile, Novo Nordisk's Wegovy and Ozempic work by mimicking a hormone produced in the gut to suppress a person's appetite. Novo Nordisk intends to further investigate the potential of the oral drug for obesity and obesity-related complications.

Persons: Novo, Martin Holst Lange, Lars Fruergaard Jorgensen, availabilities Organizations: Novo Nordisk, Inversago Pharma, Novo, Novo Nordisk's Wegovy, Nordisk, Reuters Locations: Danish, Inversago, Canada, U.S

☆ Obesity drug Wegovy's landmark trial result could 'open up' health insurance access, analyst says
▼ + stars: | 2023-08-09 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +6 min

Until now, some health insurers have been reluctant to cover the drug, given its high costs and a lack of data around its underlying health benefits. But the results of the latest trial data could change that. "Do I think most payers will adopt [obesity drugs] overnight because of the SELECT trial? According to the World Health Organization, global obesity rates have almost tripled over the past decade. Novo Nordisk shares soared by 17% following the release of the trial results on Tuesday.

Persons: Jim Vondruska, Peter Verdult, CNBC's, Wegovy, Verdult, Martin Holst Lange, Eli Lilly, Mounjaro, Michael Mason, Eli Lily, Lilly Diabetes, It's, Lilly, Novo, Lily Organizations: Reuters LONDON, Novo Nordisk, Citi, Novo, World Health Organization, Barclays, Citi Verdult, European Markets Authority Locations: Chicago , Illinois, Danish, U.S, Europe, London

☆ Novo Nordisk shares pop after key trial data shows Wegovy cuts risk of heart attack or stroke by 20%
▼ + stars: | 2023-08-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Packages of the weight-loss drug Wegovy from the pharmaceutical company Novo Nordisk lie on the sales counter in a Danish pharmacy. Shares of Danish drugmaker Novo Nordisk soared on Tuesday, after late-stage trial data showed that its obesity drug Wegovy reduced the risk of major cardiovascular events such as heart attacks or strokes by 20%, compared with a placebo. Shares of Novo Nordisk rose nearly 16% during mid-morning deals, before paring gains. Martin Holst Lange, executive vice president for development at Novo Nordisk, said that the results showed that the company's obesity drug "has the potential to change how obesity is regarded and treated." "Therefore, we are very excited about the results from SELECT showing that semaglutide 2.4 mg reduces the risk of cardiovascular events."

Persons: Martin Holst Lange, Holst Lange Organizations: Novo Nordisk, Nordisk, Investors, Reuters Locations: Danish, semaglutide

☆ Wegovy shown to reduce risk of heart attack, stroke in major cardiovascular trial
▼ + stars: | 2023-08-08 | by ( Meg Tirrell | ) edition.cnn.com time to read: +3 min

CNN —The weight loss drug Wegovy was shown to reduce the risk of heart attack, stroke or heart disease-related death by 20% in a major clinical trial in people with cardiovascular disease, the first to show a weight loss drug alone can have such protective effects. It called the five-year trial “Select.”The finding of a 20% reduction in heart risk is higher than many experts had anticipated. A similar trial for the type 2 diabetes drug Ozempic, which uses the same ingredient, semaglutide, previously showed it could reduce cardiovascular risk by 26% — but no trial had yet shown a risk reduction in people without diabetes. It said it will present detailed results from the trial at a scientific conference later this year. It’s awaiting US Food and Drug Administration approval for weight loss as well.

Persons: Wegovy, 2.4mg, ”, Martin Holst Lange, Novo, Dr, Willa Hsueh, Jena Shaw Tronieri, Sanjay Gupta, Fuller, Steven Nissen, Eli Lilly, It’s, ” Nissen, he’d Organizations: CNN, Novo Nordisk, Diabetes, Metabolism Research, Wexner, The Ohio State University, Clinical Services, Center, Perelman School of Medicine, University of Pennsylvania, Nordisk, CNN Health, Cleveland, Food and Drug

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The study called SELECT involved 17,500 patients aged 45 years or older with no prior history of diabetes and started almost five years ago testing if the weekly injection has medical benefits. The landmark trial data shows Wegovy has "the potential to change how obesity is regarded and treated," said Martin Holst Lange, executive vice president for development at Novo Nordisk, in a statement. Novo Nordisk said it expects to file for regulatory approvals of a label indication expansion for the weekly injection in the United States and European Union this year. The detailed results from the trial will be presented at a scientific conference later in 2023.

Persons: Jim Vondruska, Wegovy, Danish drugmaker, That's, Martin Holst Lange, Soren Lontoft Hansen, Novo, Maggie Fick, Nikolaj Skydsgaard, Josephine Mason, Sharon Singleton, Kirsten Donovan Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Nordisk, European Union, World Health Organization, Barclays, Thomson Locations: Chicago , Illinois, U.S, LONDON, Danish, Europe's, United States, Europe, European, Norway, Denmark, Germany, Norwegian

A selection of injector pens for the Wegovy weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. The increasingly popular Wegovy has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and celebrities worldwide. Novo's news lifted shares in Europe's second-most valuable listed company after LVMH (LVMH.PA) by more than 17% to record highs. Novo said the eagerly-awaited study results, which have not been peer reviewed, showed that patients on Wegovy had a 20% lower incidence of heart attack, stroke or death from heart disease compared to those on a placebo. Lilly's shares rose nearly 15% in early U.S. trading, boosted by its upbeat quarterly results and Novo's trial data.

Persons: Jim Vondruska, Novo, Wegovy, Jeff Levin, Willis, Willis Towers Watson, Martin Holst Lange, Novo's, Eli Lilly, Mounjaro, Soren Lontoft Hansen, Maggie Fick, Nikolaj Skydsgaard, Jacob Gronholt, Ludwig Burger, Patrick Wingrove, Terje Solsvik, Josephine Mason, Sharon Singleton, Kirsten Donovan, Jan Harvey, Alexander Smith Organizations: REUTERS, COPENHAGEN, Novo Nordisk, Willis Towers, U.S, Union, Pfizer Inc, Amgen Inc, World Health Organization, Barclays, Reuters, Pedersen, Thomson Locations: Chicago , Illinois, U.S, LONDON, Europe's, Europe, United States, Novo, Wegovy, Germany, Denmark, Norway, Copenhagen, Frankfurt, New York, Oslo

☆ Novo Nordisk: trial data of oral weight-loss drug comparable to Wegovy
▼ + stars: | 2023-05-22 | by ( Louise Rasmussen | ) www.reuters.com time to read: +3 min

The results are another boost for Novo Nordisk whose weekly Wegovy injection has transformed the weight-loss market since its U.S. launch in June 2021, capturing the attention of patients, investors and even celebrities worldwide. The Danish drugmaker said in a statement that the headline results were statistically significant and showed superior weight loss when compared to a placebo. A global launch of the oral 50 milligram (mg) semaglutide drug is contingent on portfolio prioritisations and manufacturing capacity, the company added without giving further details. The results are comparable to the company's Wegovy injection, said Martin Holst Lange, head of development at Novo Nordisk. Novo Nordisk has had supply issues and struggled to keep up with soaring U.S. demand for Wegovy.

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