COPENHAGEN/LONDON (Reuters) – Novo Nordisk said on Tuesday its obesity drug Wegovy reduced the risk of a major cardiovascular event such as stroke by 20% in overweight or obese people with a history of heart disease, exceeding the expectations of investors and analysts.
These results validate the hopes of the Danish manufacturer not to present Wegovy as a purely cosmetic drug.
The announcement sent the stock of Novo Nordisk, the second largest market capitalization in Europe behind LVMH, soaring by more than 15%.
The large-scale trial, dubbed SELECT, involved 17,500 patients and began nearly five years ago to test whether the weekly injection had any medical benefits.
Prior to the release of the highly anticipated data, investors and analysts told Reuters that a risk reduction of 15% to 17% or more would be seen as a positive outcome for the increasingly popular drug.
Novo Nordisk said in a statement that it plans to apply for approval this year to expand the weekly injection label in the United States and the European Union.
Detailed results of the trial will be presented at a scientific conference later in 2023.
Wegovy has transformed the weight loss market since its launch in the United States in June 2021, catching the attention of patients, investors and celebrities around the world.
The weekly injection allows patients to feel full longer and results in an average weight loss of around 15% when combined with dietary changes and exercise.
(Report Maggie Fick; French version Victor Goury-Laffont)
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