Takeaways
- An Ozempic study for the treatment of chronic kidney disease was stopped prematurely after showing early signs of success, leading to a rise in Novo Nordisk's ADRs and a decline in shares of drug makers. #39;dialysis machines and insulin pumps.
- An independent review panel recommended that the trial be stopped almost a year ahead of schedule due to positive interim results.
- The demand for Ozempic and the drug Novo Nordisk's diabetes sister, Wegovy, is already growing in popularity as a weight loss treatment.
Novo Nordisk's (NOVO) American depositary receipts (ADRs) jumped more than 6% in early trading Wednesday, as shares of makers of kidney dialysis machines and insulin pumps fell, after the drugmaker halted a test of its diabetes drug Ozempic due to its early marketing. success in treating kidney problems.
Novo Nordisk reported that a recommendation from the independent Data Monitoring Committee (DMC) suggested that the trial be stopped almost a year early due to positive interim results meeting pre-defined criteria .
The study was designed to see if Ozempic's key ingredient, semaglutide, could delay the progression of chronic kidney disease (CKD) and reduce the risk of kidney and cardiovascular death in people with diabetes and CKD.
Novo Nordisk indicated that 39;s decision, it would begin the process of closing the trial. He added that the results are expected to be published in the first half of next year.
Demand for Ozempic and Novo Nordisk's sister diabetes drug Wegovy has soared as its drugs have shown effectiveness as a weight loss treatment. A report released in August found that Wegovy also successfully reduced heart attacks and strokes. It also contains semaglutide.
Novo Nordisk ADRs traded close to their historic record reached a month ago. Shares of dialysis machine makers DaVita (DVA) and Baxter International (BAX) fell, as did those of insulin pump makers DexCom (DXCM) and Insulet (PODD).
