Shares in pharma giant Novo Nordisk have fallen sharply after the highly anticipated oral version of its semaglutide drug failed to meet its primary goal in late-stage trials with Alzheimer’s patients.
Today, Novo Nordisk shares plunged 10%, their lowest level since July 2021.
According to the company, “The evoke and evoke+ trials did not confirm superiority of semaglutide versus placebo in the reduction of progression of Alzheimer’s disease… While treatment with semaglutide resulted in improvement of Alzheimer’s disease-related biomarkers in both trials, this did not translate into a delay of disease progression.”
In a statement, Martin Holst Lange, chief scientific officer and EVP of Research and Development at Novo Nordisk said, “Based on the significant unmet need in Alzheimer’s disease as well as a number of indicative data points, we felt we had a responsibility to explore semaglutide’s potential, despite a low likelihood of success. We are proud to have conducted two well-controlled phase 3 trials in Alzheimer’s disease that meet the highest standards of research and rigorous methodology.”
“We sincerely thank all participants and their caregivers for their meaningful contributions. While semaglutide did not demonstrate efficacy in slowing the progression of Alzheimer’s disease, the extensive body of evidence supporting semaglutide continues to provide benefits for individuals with type 2 diabetes, obesity, and related comorbidities,” he concluded.
Alzheimer’s disease is the leading cause of dementia, responsible for 60-80% of all dementia cases globally, and currently has no cure.
The setback dampens hopes that Alzheimer’s treatments could expand the market for GLP-1 medicines like semaglutide, especially as Novo faces rising competition for its leading drugs in the obesity and diabetes markets.
By CEO NA Editorial Staff
