Novo Shares Soar as Experimental Shot Shows 22% Weight Loss
- Drug may help reinvigorate Novo’s next-generation pipeline
- Novo shares have been under pressure after series of setbacks
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Novo Nordisk A/S rose the most since August 2023 after its experimental shot delivered as much as 22% weight loss in an early-stage trial, boosting investors’ hopes for the drugmaker’s pipeline.
The results put Novo back into the hotly contested race for which drugmaker can deliver the most weight loss from a next-generation product. The shares rose as much as 14% in Copenhagen, after falling almost 20% in the past 12 months through Thursday’s close, while rival Eli Lilly & Co.’s fell 1.2% before US markets opened.