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Why Is Novo Nordisk Crashing After Data for Next-gen Weight Loss Drug?
U.S. stock market fluctuations | Amgen once rose over 3%, competing company Novo-Nordisk A/S's weight loss drug trial results fell short of expectations.
On December 20, the stock of Amgen (AMGN.US) rose more than 3% to $269.61 at the beginning of trading. According to reports, Novo-Nordisk A/S announced the main results of a Phase 3 clinical trial named REDEFINE 1 on Friday. When assessing the treatment effect for all patients who adhered to the treatment, those treated with CagriSema experienced a weight loss of 22.7% after 68 weeks, which was lower than the market expectation of 25%. The stock price of Novo-Nordisk A/S plummeted over 20%. (Gelonghui)
Express News | Shares of Viking Therapeutics up 4.2%, Amgen up 1%