The shares of Danish pharmaceutical company Novo Nordisk fell by more than 10 percent. This decline was triggered by reports that the anti-obesity drug Ozempic does not slow down Alzheimer’s disease progression.
The company conducted two large-scale studies involving nearly 4,000 patients. The results of these studies indicated that the progression of the disease did not slow down in patients taking the drug, although certain disease markers showed improvement.
Previously, scientists had hoped that this drug, which helps with diabetes and weight reduction, might also be effective against Alzheimer’s. Novo Nordisk’s Chief Scientific Officer noted that despite the low probability of success, the high demand for new drugs drove the decision to test it.
Throughout this year, the company’s shares have already dropped by more than half. Meanwhile, its main competitor, U.S.-based Eli Lilly, recently developed anti-diabetes and anti-obesity drugs, raising its market valuation to $1 trillion.
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