Novo Nordisk must face US shareholder lawsuit over CagriSema weight loss trial
NVO•Shares fell after disappointing trial results
Novo Nordisk's American depositary receipts fell 17.8% on December 20, 2024, after the Danish drugmaker said CagriSema helped reduce weight by 20.4%, below its 25% target and what investors called the "proven" 22.5% benchmark for Eli Lilly's Zepbound obesity drug.
Investors also blamed the decline on Novo Nordisk's revelation that it changed its usual protocols by letting participants control their own CagriSema dosages, with just 57% receiving the highest dose. They said this raised concern that some people might have difficulty tolerating the treatment.
Judge lets part of shareholder lawsuit proceed
A U.S. judge said on Tuesday that Novo Nordisk must face part of a lawsuit accusing it of defrauding shareholders about a clinical trial for its weight loss and diabetes treatment .
