Novo Nordisk must face US shareholder lawsuit over CagriSema clinical trial
NVO•US judge allows part of shareholder lawsuit to proceed
July 28 (Reuters) - A U.S. judge said on Tuesday that Novo Nordisk NOVOb.CO must face part of a lawsuit accusing it of defrauding shareholders about a clinical trial for its weight loss and diabetes treatment CagriSema.
Investors in Novo Nordisk's American depositary receipts said their securities plummeted in value after the market learned that the Danish drugmaker changed its usual protocols for the clinical trial, known as Redefine 1, by letting participants control their own CagriSema dosages.
While dismissing claims based on many alleged misleading statements and omissions, U.S. District Judge Robert Kirsch in Trenton, New Jersey said investors could pursue claims over Novo Nordisk statements related to CagriSema's "tolerability" and Redefine 1's related clinical protocols.
