Novo Nordisk gains, DaVita sinks as blockbuster drug Ozempic effective in kidney trial
Novo Nordisk (NVO) gains, DaVita (DVA) sinks as blockbuster drug Ozempic effective in kidney trial
Shares of Novo Nordisk (NYSE:NVO) gained 2% after hours Tuesday after the company said it is stopping the kidney trials of blockbuster drug Ozempic (Semaglutide) early based on a positive outcome.
The FLOW kidney outcomes trial focused on examining the impact of semaglutide versus a placebo on the progression of renal impairment in individuals with type 2 diabetes and chronic kidney disease.
The decision to halt the trial stems from a recommendation put forth by the independent Data Monitoring Committee (DMC). Their recommendation was made following an interim analysis, which confirmed that specific pre-established criteria for early termination due to efficacy had been met.
With this decision to terminate the trial prematurely, the process of concluding the study will now be set in motion. Novo Nordisk is committed to upholding the trial’s integrity and will remain unaware of the results until the trial is fully completed. It is anticipated that the final results from the FLOW trial will become available in the first half of 2024.
The news from Novo Nordisk has shares of kidney dialysis firm DaVita (NYSE:DVA) down over 11% after-hours.
