Novo Nordisk Faces Setbacks as CagriSema Trial Results Disappoint Investors

The company's stock drops sharply, losing its position as Europe’s most valuable company, while it pursues new drug licensing and regulatory approval plans.

Novo Nordisk's experimental obesity drug CagriSema underperformed in late-stage trials, with weight-loss results falling short of expectations for patients with and without type 2 diabetes.
The company’s stock value has dropped significantly, leading to the loss of its status as Europe’s most valuable company to German software giant SAP.
CagriSema's tolerability is under scrutiny, with fewer than two-thirds of trial participants reaching the highest dose due to gastrointestinal side effects.
Novo Nordisk plans to file for regulatory approval of CagriSema in early 2026, while an upcoming REDEFINE-4 study may provide further insights into its efficacy.
In a $2 billion deal, Novo Nordisk licensed a Chinese-made weight-loss drug, UBT251, as it seeks to strengthen its pipeline in the competitive obesity drug market projected to exceed $100 billion by 2030.