A view of the Novo Nordisk logo at the company’s office in Bagsvaerd, on the outskirts of Copenhagen, Denmark, March 8, 2024.
Tom Little | Reuters
Shares of Novo Nordisk jumped Friday after the Danish pharmaceutical giant reported positive early-stage results for its once-weekly obesity drug amycretin.
The trial showed that the treatment, which is administered by injection, resulted in an average weight reduction of 22% in obese and overweight patients after 36 weeks.
Shares rose 10% as of 11:43 a.m. London time, putting the stock on track for its biggest daily gain since August 2023. Shares of Danish obesity drugmaker Zealand Pharma also followed higher high, up 4.7%.
Amycretin targets the same gut hormone that Wegovy mimics, known as GLP-1, as well as a pancreas hormone called amylin that affects hunger. Wegovy is Novo Nordisk’s flagship obesity drug while Ozempic is its diabetes treatment.
The trial was conducted on 125 overweight or obese patients and the most common side effects were gastrointestinal, with the vast majority being “mild to moderate in severity.”
“We are very encouraged by the Phase 1B/2A subcutaneous results for Amycretin in people living with overweight or obesity,” Martin Lange, executive vice president of development at Novo Nordisk, said in a statement. .
“The results observed in the trial support the weight-lowering potential of this novel unimolecular GLP-1 and amylin receptor agonist, amycretin, which we have already seen with the oral formulation.”
Novo is also developing an amycretin obesity pill. Start-up tests Announced in September, showed an average weight loss of 13.1% after 12 weeks. The company said at the time that the treatment was safe and tolerable for patients, but included mild to moderate side effects.
This is a developing story. Please check for updates.
