Reported about 23 hours ago
Novo Nordisk's stock saw its largest drop in over 20 years, falling more than 20% after the company announced that its new weight loss drug, CagriSema, produced an average weight loss of only 22.7%, disappointing investors who expected at least 25%. Despite outperforming existing GLP-1 products, the results failed to impress the market, leading to a sell-off and boosting competitors like Eli Lilly. Analysts voiced concerns that future trials of CagriSema might not significantly improve these outcomes.
Source: YAHOO