COPENHAGEN – Novo Nordisk said on Thursday a late-stage trial showed its new once-weekly diabetes drug significantly reduced patients' cardiovascular risks, boosting the company's hopes of maintaining its lead in the fast-growing diabetes market.
Shares in the Danish drugmaker rose as much as 3.5 percent on the news.
The trial, dubbed SUSTAIN 6, showed the drug - called semaglutide - delivered a "statistically significant reduction in cardiovascular risk" compared with placebo in patients with type 2 diabetes.
Cardiovascular risks are often higher among diabetes patients because they tend to be overweight.
The only other diabetes drug with positive cardiovascular side-effects is Eli Lilly's Jardiance.
"We expect investors will be surprised by this outcome given the study was not powered to show a benefit," Deutsche Bank analyst Tim Race said in a note.
Sales of semaglutide - a so called GLP-1 analog treatment - could peak at 30-35 billion Danish crowns ($4.6-5.3 billion) in 2030, said Alm Brand Bank analyst Michael Friis Jorgensen.
"The new data will help sales of Novo's GLP-1 products, which will make up 70 percent of the company's growth through 2020," Jorgensen added.
Novo Nordisk said it expected to file semaglutide for regulatory review in the United States and European Union in the fourth quarter of 2016. –REUTERS
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
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