Novo Slumps as Study on Victoza’s Heart Impact Disappoints
- Leader trial finds 22 percent fewer deaths from heart disease
- Victoza fails to keep pace with expectations, Lilly’s drug
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Novo Nordisk A/S slumped after its diabetes drug Victoza showed a smaller benefit than analysts had expected in reducing the risk of heart attacks, strokes and deaths from cardiovascular causes.
Some analysts were anticipating a benefit of 15 percent or more, rather than the 13 percent researchers found, after the Danish drugmaker said in March that the study known as Leader beat its initial goal. The stock fell as much as 5.2 percent, the most in more than four months, in Copenhagen trading. At 11:33 a.m. local time, it was down 4.9 percent to 345.60 kroner.