Shares of Novo Nordisk Surge 8% on Positive Weight Loss Trial; Eli Lilly Slips

Novo Nordisk’s stock surged by 8% on Thursday, reaching an all-time high following the release of positive initial trial data for a novel experimental weight loss medication.

During an investor meeting, the Danish pharmaceutical powerhouse disclosed that the Phase I trial of its highly awaited obesity treatment, amycretin, demonstrated a remarkable 13.1% reduction in weight among participants over a 12-week period, as reported by Reuters. This figure notably surpasses the 6% weight loss observed in a 12-week trial for Novo Nordisk’s widely popular obesity drug, Wegovy.

The company announced plans for a Phase II trial slated to commence in the latter half of the year, with results anticipated in early 2026.

Novo plans Phase II trial for amycretin, with results expected in early 2026.

Novo Nordisk, the leading European company in terms of market capitalization, has seen its shares climb by more than 27% since the beginning of the year, buoyed by robust demand for its flagship anti-obesity medications, Wegovy and Ozempic.

Jared Holz, an analyst at Mizuho, commented, “Eli Lilly and Novo Nordisk will remain leaders in the weight-loss drug market.”

Earlier this week, Novo Nordisk unveiled results from late-stage trials indicating that Ozempic significantly reduced the risk of kidney disease progression and mortality from kidney or cardiovascular complications by 24% in diabetic patients with chronic kidney disease. These findings contribute to the growing body of evidence showcasing the broader health benefits associated with Ozempic and similar drugs, extending beyond weight management and Type 2 diabetes treatment.

Novo Nordisk
Novo Nordisk shares surge 8%, hitting record high on promising trial data for amycretin. (Credits: CNN News)

Yuri Khodjamirian, Chief Investment Officer at Tema ETFs, remarked, “Despite competitor readouts in the last few weeks (Zealand, Viking), today’s capital markets day from Novo Nordisk shows they are not sitting still and preparing already for a life after Ozempic.”

Khodjamirian continued, “As we always say, safety will be key and Novo are waiting to see results of the subcutaneous formulation before making a clinical plan. Overall, we think this bolsters Novo’s position as it now has several follow up agents to Ozempic/Wegovy, where the patent expires in 2031/32, led by Cagrisema and now Amycretin, to help evergreen their obesity franchise.”

In response to the news, shares of American competitor Eli Lilly dipped by 0.6% in premarket trading.

Sajda Parveen
Sajda Parveen
Sajda Praveen is a market expert. She has over 6 years of experience in the field and she shares her expertise with readers. You can reach out to her at [email protected]
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