Packages of the weight-loss drug Wegovy from the pharmaceutical company Novo Nordisk lie on the sales counter in a Danish pharmacy.
Stefan Trumpf | Picture Alliance | Getty Images
Shares of Danish drugmaker Novo Nordisk soared Tuesday, after late-stage trial data showed that its obesity drug Wegovy reduced the chance of major cardiovascular events equivalent to heart attacks or strokes by 20%, compared with a placebo.
The outcomes of the closely watched “SELECT” trial, which exceeded expectations, were seen as a serious boost for the corporate’s hopes of moving beyond Wegovy’s image as a “vanity drug.”
Shares of Novo Nordisk ended the session up over 17%.
The double-blind trial began almost five years ago and involved greater than 17,600 adults with established heart problems who were chubby or suffered from obesity, but had no prior history of diabetes.
The headline results show that the weekly injection of semaglutide 2.4 mg achieved its primary objection of reducing the chance of cardiovascular events, equivalent to heart attacks or strokes, by 20% compared with a placebo. Wegovy comprises 2.4 mg of semaglutide.
Investors and analysts had told Reuters that a risk reduction of between 15% and 17% can be interpreted as a positive result for the blockbuster weight reduction drug.
Martin Holst Lange, executive vice chairman for development at Novo Nordisk, said that the outcomes showed that the corporate’s obesity drug “has the potential to vary how obesity is regarded and treated.”
“People living with obesity have an increased risk of heart problems but up to now, there aren’t any approved weight management medications proven to deliver effective weight management while also reducing the chance of heart attack, stroke or cardiovascular death,” Holst Lange said in a press release.
“Subsequently, we’re very excited concerning the results from SELECT showing that semaglutide 2.4 mg reduces the chance of cardiovascular events.”
The corporate said it expects to file for regulatory approvals of a label indication expansion for Wegovy within the U.S. and European Union this 12 months.
Emily Field, head of European pharmaceuticals equity research at Barclays, told CNBC last month that the outcomes of Novo Nordisk’s SELECT trial amounted to a vital litmus test for the health industry.
Within the event that the drug was found to have wider-reaching applications, including cardiovascular advantages, Field said that it was more likely that it could possibly be adopted under mainstream health-care policies.
Public health services “don’t need to pay for it, if it won’t tackle underlying health conditions,” she said.
The detailed results from the SELECT trial might be presented at a scientific conference later within the 12 months, Novo Nordisk said, without fully disclosing the timeline.
— CNBC’s Karen Gilchrist contributed to this report.
