Novo Nordisk shares dive 9% after heart medicine fails trial

Novo Nordisk shares fell after its experimental medicine, ziltivekimab, failed to show a statistically meaningful reduction in major adverse cardiovascular events in patients with certain diseases. "This does not change our strategic commitment to cardiovascular disease," chief scientific officer Martin Holst Lange said. The missed endpoint is the latest blow to the Danish drugmaker, which is racing to restore investor confidence in its pipeline and ability to execute, especially in the challenging U.S. market. Shares of Novo Nordisk fell as much as 10% on Friday after the drugmaker said a late-stage heart drug trial failed to reduce major adverse cardiovascular events, or MACE , compared to a placebo. While the experimental medicine, ziltivekimab, did show some biological effect, it didn't translate into a statistically meaningful reduction in MACE, defined as cardiovascular death, non-fatal heart attack or non-fatal stroke, for patients with certain diseases, Novo said in a statement on Friday. "While ziltivekimab did not achieve the MACE benefit we had hoped for, this does not change our strategic commitment to cardiovascular disease," chief scientific officer Martin Holst Lange said. Copenhagen-listed shares were last seen down 7.4% while its American depositary receipts were 8.6% lower in premarket trading. The missed endpoint is the latest blow to the Danish drugmaker, which is racing to restore investor confidence in its pipeline and ability to execute, especially in the challenging U.S. market. The study tested whether ziltivekimab, which blocks the inflammatory IL-6 pathway, could reduce the risk of a first major cardiovascular event compared with placebo when added to standard treatment. The trial involved more than 6,300 people who had atherosclerotic cardiovascular disease, chronic kidney disease and elevated inflammation. Overall adverse-event rates were similar, although serious infections were more common with ziltivekimab. There was no difference in overall mortality. Coming into Friday trading, the company's Danish shares had fallen 7% year-to-date.