Novo Nordisk stock rose moderately Wednesday after the pharma giant said its new weight-loss drug, amycretin, outperformed blockbuster shot Wegovy in a 12-week study.
Patients who took the highest dose of amycretin lost up to 13.1% of their body weight over 12 weeks. In comparison, participants in Wegovy studies lost about 6% after 12 weeks and 15% after 68 weeks, according to Reuters. Like other drugs in the class, amycretin recipients experienced gastrointestinal side effects, including nausea and vomiting.
The company presented the amycretin data at the European Association for the Study of Diabetes meeting in Madrid. Amycretin, like Wegovy, mimics the GLP-1 hormone to improve feelings of satiety and glucose markers. But it also impacts a pancreas hormone called amylin that affects hunger.
Novo Nordisk stock jumped 4.2% to close at 135.21. That put shares within just above their 50-day moving average, which the stock undercut on Sept. 3. Shares of rival Eli Lilly advanced 2.1%, closing at 920.17. Viking Therapeutics and Structure Therapeutics, which are also working on weight-loss pills, surged a respective 11.3% and 15.2%.
In related news, shares of Roche slumped after the drugmaker reportedly said the results of its recent study in weight loss were based on just six participants. In July, the company said participants given the once-daily pill, dubbed CT-996, lost 6.1% more body weight than placebo recipients. But the same size of the study underscores the uncertainty of the results.
Roche stock fell about 6% to 37.33.
Novo Nordisk: Breaking Into Pills
Novo and Lilly lead the weight-loss drugs market with injections Wegovy and Zepbound.
But numerous companies are trying to break into the pills segment. Shots require an auto-injector, pen or syringe, making them tricky to make. Pills, on the other hand, need a greater amount of actual drug. But some patients prefer oral medications.
Lilly, Pfizer, Roche and AstraZeneca are testing a pill that impacts GLP-1 alone. Viking and Novo are taking combination approaches. Viking's drug — which is being tested in a shot formulation as well as a pill — targets the GLP-1 and GIP hormones. Structure has myriad GLP-1 approaches, including combinations.
Novo Nordisk stock has fallen since late June. Shares are consolidating with a buy point at 148.15, MarketSurge chart analysis shows.
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