Novo Nordisk Share Fall Seems Justified by Loss of Big Sales Opportunity
Dow Jones
Jul 31
1250 GMT - Novo Nordisk's share-price fall on news that a cardiovascular drug candidate failed in a trial seems understandable given that it removes a multibillion-dollar sales opportunity from the Danish pharmaceutical company's pipeline, J.P. Morgan analysts say in a note. The lack of efficacy the Danish pharmaceutical company's drug, Ziltivekimab, showed in the late-stage clinical trial suggests two other studies that are still under way are highly unlikely to show any benefit, the analysts say. That said, consensus estimates for the drug were relatively modest at $1.2 billion for 2033, they add. Novo Nordisk shares fall 7%.
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