Novo Nordisk announced today that a large study has shown that its drug (Wegovy) used for obesity treatment has another medical benefit, which is reducing the risk of cardiovascular diseases. This announcement caused Novo Nordisk's shares to rise by more than 17 percent, reaching a record high. The company's shares have increased by approximately 165 percent over the past two years.
The Danish company reported that the study results revealed patients receiving Wegovy have a 20 percent lower likelihood of experiencing heart attacks and strokes. This result significantly surpassed investors' and analysts' expectations, which estimated the reduction would be between 15 and 17 percent prior to the data release.
The study, named "SELECT," involved 17,500 patients aged 45 years or older with no history of diabetes. It started nearly five years ago to test whether the weekly injections have medical benefits. Martin Holst Lange, the company's executive vice president for development, stated that the important trial results indicate Wegovy "has the potential to change how obesity is treated."
The company anticipates submitting a request for regulatory approval for the weekly injections in the United States and the European Union this year. Results of the trial will be detailed at a scientific conference later this year. The increasingly popular drug has transformed the weight loss drug market since its launch in the United States in June 2021, attracting the attention of patients, investors, and celebrities worldwide.
