Novo Nordisk shares slide as diabetes drug fails to beat Lilly's on cardiovascular outcomes

15 June 2016

Shares in Denmark's Novo Nordisk (NOV: N) fell almost 5% to a three-month low on Tuesday, as new trial data revealed its diabetes drug Victoza (liraglutide) was not as effective as Eli Lilly's (NYSE: LLY) Jardiance (empagliflozin) at reducing the risk of death from heart attacks and strokes.

Results presented late Monday at the annual American Diabetes Association meeting showed that, although injectable Victoza was successful in cutting the relative risk reduction of major cardiovascular events of fatal and non-fatal heart attack and non fatal stroke by 13% versus placebo, the results did not compare favorably to Lilly's oral drug, for which the same composite figure was 14%.

The Victoza figures of 22% reduction for cardiovascular death could also not match the 38% achieved by Jardiance, although patients given the drug were found to lose five pounds more weight than those given placebo.

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