Novo Nordisk stock market plunge drags down Swiss device maker Ypsomed

Danish firm Novo Nordisk, known for its bestsellers Ozempic and Wegovy, treatments for diabetes and weight loss, fell more than 20% on the stock market on Friday, after disappointing results of a new study on another drug. The Danish pharmaceutical giant's setbacks also weighed on the share price of Bern-based injection device manufacturer Ypsomed. +Get the most important news from Switzerland in your inbox Novo Nordisk, one of Europe's leading market capitalisations, said that clinical trials showed that overweight people using its drug candidate CagriSema lost an average of 22.7% of their body weight over the 68-week trial, compared with 2.3% for those using a placebo. The result fell short of the 25% expected by Novo Nordisk, causing its share price to drop by more than 22% after the announcement. According to the firm, the trial involved 3,417 overweight or obese people with one or more comorbidities. However, Novo Nordisk is “encouraged by the results,” said Martin Holst Lange ...