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Update (9:31am ET): Stock opening price
Novo Nordisk (NVO) shares hit an all-time high on Thursday after the Danish drugmaker reported promising results from an early-stage clinical trial of its experimental oral weight-loss drug, amycretin.
Amycretin, a long-acting co-agonist of GLP-1 and amylin, helped patients lose 13% of their weight in 12 weeks in a Phase 1 trial, the company said at its investor day meeting.
Wegovy (semaglutide), Novo Nordisk's (NVO) highly popular GLP-1 obesity drug, helped patients shed around 6% after 12 weeks.
Novo's (NVO) shares rose up to 7.5% to DKK912.80 on Thursday, reaching its highest level on record. Its NYSE-listed shares opened over 7% high at $133.73. The pharma company has seen its stock value rise 73% over the past year, thanks to its blockbuster GLP-1 drugs Ozempic and Wegovy. The drugs contributed ~55% of the company’s total sales in 2023.
The company is also exploring additional indications for semaglutide, in reducing cardiovascular risks, knee osteoarthritis, heart failure and more.
Shares of rival Eli Lilly (LLY) – leading the weight loss space with its GLP drugs Mounjaro and Zepbound – fell 1.51% premarket in response to the positive amycretin data.
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