Novo Nordisk stock falls after cardiovascular trial failure

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Novo Nordisk shares slid after the company said ziltivekimab, its interleukin-6 inhibitor, did not reduce major adverse cardiovascular events in the Phase 3 ZEUS trial, posting a hazard ratio of 0.99 versus placebo across more than 6,300 patients. The setback eliminates a potential revenue source beyond its GLP-1 franchise. A U.S. judge also ruled that a shareholder securities fraud lawsuit related to CagriSema can proceed, alleging an undisclosed mid-trial protocol change. Combined with growing competition from Eli Lilly, these developments create immediate investor concern and remove near-term pipeline upside.

Phase 3 cardiovascular trial showed no benefit and removed a pipeline catalyst