Shares of Novo Nordisk Rise on Diabetes Drug Data

Novo Nordisk said Tuesday Phase II clinical data for its diabetes drug candidate liraglutide showed the drug was more effective in helping to lower weight in obese patients than GlaxoSmithKline's orlistat. Liraglutide, given once a week for 20 weeks at the highest dose, helped people lose 7 kg versus the 3 kg the average person lost in the placebo group. "We are very encouraged by these new results. They give us reason to believe that liraglutide has the potential to become a new and important treatment option in the fight against serious obesity," said Mads Krogsgaard Thomsen, chief science officer at Novo. Liraglutide is part of the new class of diabetes drugs known at GLP-1 analogues. Shares of Novo Nordisk jumped on the news, closing 5% higher to $127.19, while shares of GlaxoSmithKline traded 0.4% higher to $48.21.

Sources: Press release, MarketWatch, AFX
Commentary: Eight Danish Stocks to Add to Your Portfolio • Novo Nordisk: Doing Nicely
Stocks to watch: NVO, GSK. ETFs: BBH, PJP

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