Novo Nordisk's stock declined 2.3% following the announcement of trial results for its experimental obesity drug CagriSema. In the REDEFINE 4 trial, CagriSema achieved 23% weight loss after 84 weeks but failed to meet its primary endpoint of demonstrating non-inferiority compared to competitor Eli Lilly's tirzepatide, which showed 25.5% weight loss. The trial included 809 randomized people with obesity. CagriSema is Novo Nordisk's lead candidate to succeed its blockbuster drug Wegovy. The company stated the drug had a safe and well-tolerated profile with mostly mild to moderate gastrointestinal adverse events. Novo Nordisk noted additional trials are exploring higher-dose combinations of CagriSema. The company also announced plans to reduce U.S. list prices for Wegovy and Ozempic by up to 50% and 35% respectively starting January 2027.
Read full analysisNovo Nordisk's stock declined 2.3% following the announcement of trial results for its experimental obesity drug CagriSema. In the REDEFINE 4 trial, CagriSema achieved 23% weight loss after 84 weeks but failed to meet its primary endpoint of demonstrating non-inferiority compared to competitor Eli Lilly's tirzepatide, which showed 25.5% weight loss. The trial included 809 randomized people with obesity. CagriSema is Novo Nordisk's lead candidate to succeed its blockbuster drug Wegovy. The company stated the drug had a safe and well-tolerated profile with mostly mild to moderate gastrointestinal adverse events. Novo Nordisk noted additional trials are exploring higher-dose combinations of CagriSema. The company also announced plans to reduce U.S. list prices for Wegovy and Ozempic by up to 50% and 35% respectively starting January 2027.
Novo Nordisk is a Danish pharmaceutical giant and the dominant maker of GLP-1 obesity and diabetes drugs, including the blockbuster Wegovy and Ozempic brands that together generate tens of billions in annual revenue. The company recently launched an oral Wegovy pill in the U.S. and secured EU approval for a higher injectable dose. Today's continued weakness reflects compounding setbacks: CagriSema's failure to match Eli Lilly's tirzepatide in a head-to-head trial, the announcement of steep U.S. list price cuts for its core franchises, and analyst downgrades — together threatening both competitive positioning and revenue trajectory in the obesity drug market.