The trial success of Novo Nordisk’s hit drug in opposition to kidney failure despatched shares of a German kidney dialysis companies agency plummeting on Wednesday.
Fresenius Medical Care shares
FME,
FMS,
slumped 23%, and shares of its half proprietor Fresenius
FRE,
misplaced 12%, after Novo Nordisk halted a trial of semaglutide versus placebo on the development of renal impairment in folks with sort 2 diabetes and persistent kidney illness early due to its efficacy.
Novo Nordisk shares
NOVO.B,
NVS,
jumped 3% in Copenhagen commerce. The Danish drugmaker is the second-largest firm in Europe by market cap, trailing solely Nestle, heading into the day.
“We see kidney disease as one of the areas where GLP-1s could potentially negatively impact the size of the relevant patient population over time,” mentioned analysts at Citi led by Weronika Dubajova. “The early stopping of the FLOW trial indeed suggests such an impact; it also points to a somewhat faster effect than we had previously contemplated.”
GLP-1 refers back to the class of medication used for diabetes and weight reduction. Eli Lilly
LLY,
has related medication within the trial stage, and the 2 firms are anticipated to dominate the marketplace for them.
Novo Nordisk’s Ozempic is the GLP-1 drug particularly for sufferers with sort 2 diabetes. The trial was of three,534 folks with sort 2 diabetes, with a median age of almost 67 years, two-thirds of whom have been at very excessive threat for persistent kidney illness development.
The Danish drugmaker mentioned it stays blinded to the outcomes of the trial till it’s accomplished, which is predicted within the first half of 2024.
Source web site: www.marketwatch.com
