Novo Nordisk shares fall as late-stage heart drug trial fails to reduce major cardiovascular events
Novo Nordisk shares fell as much as 10% on Friday after the company announced that its late-stage heart drug trial, ZEUS, failed to reduce major adverse cardiovascular events (MACE) compared to a placebo. The experimental medicine, ziltivekimab, demonstrated biological effects by inhibiting the IL-6 pathway, but it did not result in a statistically meaningful reduction in cardiovascular death, non-fatal heart attack, or non-fatal stroke for patients with atherosclerotic cardiovascular disease, chronic kidney disease, and elevated inflammation. Martin Holst Lange, chief scientific officer at Novo Nordisk, stated that while the drug did not achieve the hoped-for MACE benefit, it does not change the company's strategic commitment to cardiovascular disease. The trial involved over 6,300 people and showed similar overall adverse-event rates to the placebo, though serious infections were more common with ziltivekimab. The result will lead to a non-cash impairment charge in Q3 2026, though it will not impact the company's adjusted operating profit outlook for 2026. Novo Nordisk remains under pressure from competition with Eli Lilly.