Novo Nordisk (NVO) -), the Danish drugmaker behind the popular weight-loss treatment Ozempic, said Wednesday that it has also proven to be highly effective in treating kidney failure.
Shares in the group soared to the top of the European stock market Wednesday after it stopped a trial of the drug on kidney patients one year early. The company cited data from the study that showed clear success in slowing the advance of chronic kidney disease while lowering the risk of associated heart risk.
"The decision to stop the trial is based on a recommendation from the independent Data Monitoring Committee concluding that the results from an interim analysis met certain prespecified criteria for stopping the trial early for efficacy," Novo Nordisk said. "Based on the decision to stop the trial at interim, the process of closing the trial will be initiated."
Novo Nordisk is also the maker of Wegovy, another weight-loss treatment that uses the active ingredient semaglutide, also found in Ozempic, that can stimulate insulin production.
The results could also indicate a secondary use for Eli Lilly's (LLY) -) diabetes and obesity treatment Mounjaro, which the drugmaker is also hoping will be prescribed as a broader weight-loss treatment.
Novo Nordisk's U.S.-listed shares were marked 2.6% higher in early Wednesday trading to change hands at $95.47 each, while Eli Lilly shares were marked 1.7% higher at $589.28 each.
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