Novo Nordisk Stock Rebounds After Friday's Surge

Novo Nordisk shares experienced a significant rebound on Monday, following a nearly 17.8% drop on Friday. The Danish pharmaceutical giant's market value plummeted by €90 billion after disappointing results from a Phase III trial of its weight-loss drug, CagriSema, were announced. The REDEFINE 1 study revealed that CagriSema's weight-loss benefits were comparable to Eli Lilly's Zepbound, but with poorer tolerability.

The trial indicated that patients using CagriSema lost an average of 22.7% of their weight over 68 weeks, while those on a placebo lost 2.3%. Although the weight loss was significant, the poorer tolerability compared to Zepbound raised concerns about the drug's market competitiveness. This perception was further exacerbated by the fact that the trial results were announced on a Friday, which can sometimes lead to more severe market reactions due to weekend trading pauses.