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Novo Nordisk's (NVO) Phase IIIb Study Meets Primary Endpoint

Zacks.com logo Zacks.com 11/18/2020

Novo Nordisk A/S (NVO) announced headline results from the SUSTAIN FORTE study, an efficacy and safety study with once-weekly semaglutide 2.0 mg versus once-weekly semaglutide 1.0 mg as add-on to metformin and/or sulfonylureas in 961 people with type II diabetes in need for treatment intensification. The phase IIIb study achieved its primary endpoint by demonstrating a statistically significant and superior reduction in HbA1c of 2.2% at week 40 with semaglutide 2.0 mg compared with a 1.9% reduction with semaglutide 1.0 mg.

Shares of the company have increased 17% year to date compared with the industry’s growth of 2.3%.

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The results also showed that from a mean baseline body weight of 99.3 kg, people treated with semaglutide 2.0 mg experienced a statistically significant and superior weight loss of 6.9 kg compared with 6.0 kg with semaglutide 1.0 mg. People treated with semaglutide 2.0 mg experienced a statistically non-significant weight loss of 6.4 kg compared with 5.6 kg with semaglutide 1.0 mg. The study showed that patients in poor glycaemic control increase the likelihood of achieving their HbA1c target when treated with semaglutide 2.0 mg.

We remind investors that semaglutide 1.0 mg is approved under the brand name Ozempic for the treatment of type II diabetes.

Novo Nordisk has a strong presence in the Diabetes care market, with one of the broadest diabetes portfolios in the industry. The company has improved its global diabetes value market share from 28.4% to 29.2% over the past 12 months, driven by an improved global insulin market share and expansion of the GLP-1 segment.

Novo Nordisk AS Price

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Zacks Rank & Stocks to Consider

Novo Nordisk currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the healthcare sector include ASLAN Pharmaceuticals Ltd. ASLN, Abeona Therapeutics Inc. ABEO and Alimera Sciences Inc. ALIM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

ASLAN’s loss per share estimates have narrowed from 42 cents to 40 cents for 2020 and from 60 cents to 57 cents for 2021 over the past 60 days. Shares of the company have decreased 19.7% year to date.

Abeona’sloss per share estimates have narrowed from 96 cents to 88 cents for 2020 and from 69 cents to 64 cents for 2021 over the past 60 days. Shares of the company have increased 60.8% year to date.

Alimera’s loss per share estimates have narrowed from $1.31 to 96 cents for 2020 over the past 60 days. Shares of the company have decreased 29.9% year to date.

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