{"id":71396,"date":"2023-10-11T10:52:50","date_gmt":"2023-10-11T14:52:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/novo-nordisk-halts-ozempic-kidney-trial-why-its-bad-for-davita-stock\/"},"modified":"2023-10-11T10:52:53","modified_gmt":"2023-10-11T14:52:53","slug":"novo-nordisk-halts-ozempic-kidney-trial-why-its-bad-for-davita-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=71396","title":{"rendered":"Novo Nordisk Halts Ozempic Kidney Trial. Why It&#8217;s Bad for DaVita Stock."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000766068\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Novo Nordisk<span>\u2019s<\/span><br \/>\n       Ozempic already is threatening to disrupt a range of industries via its weight-loss benefits. Now it looks set to threaten companies which treat kidney failure. <\/p>\n<p>\n        Novo Nordisk<span>\u2019s<\/span><br \/>\n       (ticker: NVO) Ozempic and Wegovy are examples of a new range of drugs known as GLP-1 receptor agonists. Originally developed as a therapy for diabetes patients, they are now poised to revolutionize obesity treatment in the U.S. and beyond.\u00a0<\/p>\n<div class=\"paywall\">\n<p>However, scientists are still working on other uses for the drugs. Novo Nordisk said late Tuesday that Ozempic showed sufficient success in a trial for kidney failure in diabetes patients that it would stop the study early.\u00a0<\/p>\n<p>Novo Nordisk said the decision to stop the trial early was based on a recommendation from an independent data monitoring committee, after it met pre-specified criteria for efficacy. Full results are expected during the first half year of 2024.<\/p>\n<p>Analysts at Jefferies said the addressable market size for people suffering from chronic kidney disease with type 2 diabetes could be 13.6 million patients across the U.S. and European Union. <\/p>\n<p>American depositary receipts of Novo Nordisk were up 3.8% on Wednesday.\u00a0<br \/>\n        Eli Lilly<br \/>\n       (LLY), which is seeking approval to market its own GLP-1 obesity treatment tirzepatide in the U.S., was up 3%, making it the second-best performer on the day in the<br \/>\n        S&amp;P 500<span>.<\/span>\n       <\/p>\n<p>Good news for Novo Nordisk was looking like bad news for dialysis-services providers.<br \/>\n        DaVita<br \/>\n       (DVA) shares were down 17%, making it the worst performer in the S&amp;P 500 and putting it on track for its worst one-day performance in nearly a year, according to Dow Jones Market Data, while<br \/>\n        Baxter International<br \/>\n       (BAX) dropped 9%. <\/p>\n<p>\u201cThe body of evidence to support GLP-1 use, over and above weight loss and blood glucose control, continues to grow,\u201d Citi analysts wrote in a note.\u00a0<\/p>\n<p>The analysts raised their target price on Novo Nordisk stock to 745 Danish kroner ($106) from 600 kroner previously. The stock was up 4.1% at 676.80 kroner in local trading.\u00a0<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/novo-nordisk-stock-ozempic-davita-kidney-dialysis-d5d7010a?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Novo Nordisk\u2019s Ozempic already is threatening to disrupt a range of industries via its weight-loss benefits. Now it looks set to threaten companies which treat kidney failure. Novo Nordisk\u2019s (ticker: NVO) Ozempic and Wegovy are examples of a new range of drugs known as GLP-1 receptor agonists. Originally developed as a therapy for diabetes patients, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":71397,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-71396","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Novo Nordisk Halts Ozempic Kidney Trial. Why It&#039;s Bad for DaVita Stock. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Novo Nordisk\u2019s Ozempic already is threatening to disrupt a range of industries via its weight-loss benefits. Now it looks set to threaten companies which\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=71396\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Novo Nordisk Halts Ozempic Kidney Trial. Why It&#039;s Bad for DaVita Stock. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Novo Nordisk\u2019s Ozempic already is threatening to disrupt a range of industries via its weight-loss benefits. 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