Novo Nordisk’s (NYSE:NVO) Ozempic lowered the risk of kidney disease progression in patients with type-2 diabetes and chronic kidney disease by nearly 24%. The headline results are from the biotech company’s FLOW trial, which included nearly 3,500 subjects.
The company halted the FLOW trial in October last year following successful results and a recommendation from an independent data monitoring committee. The study achieved its primary endpoint, with Ozempic indicating a safe and well-tolerated profile.
Martin Holst Lange, the Executive Vice President for Development at NVO, noted that the promising results point to “the potential for semaglutide (Ozempic) to become the first GLP-1 treatment option for people living with type 2 diabetes and chronic kidney disease.”
Next, the company plans to file for an Ozempic label expansion in the U.S. and European Union this year. Novo’s Ozempic was initially developed for diabetes. However, the drug has achieved rapid popularity as a weight-loss treatment.
Is Novo Nordisk a Buy, Sell, or a Hold?
The Danish pharmaceutical major has seen its share price soar by nearly 77% over the past year. Overall, the Street has a Moderate Buy consensus rating on Novo Nordisk, and the average NVO price target of $118.80 implies a potential downside of 7.15% in the stock.
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