Novo Nordisk shares fell more than 10% after its experimental drug, ziltivekimab, failed the Phase 3 ZEUS trial. The study involved over 6,300 patients with cardiovascular disease, chronic kidney disease, and inflammation.
Ziltivekimab did not reduce the risk of major adverse cardiovascular events compared to a placebo. The drug successfully reduced inflammation biomarkers, but this did not translate into clinical benefits for patients.
Novo Nordisk will record a non-cash impairment charge in the third quarter. The company confirmed the failure will not impact its 2026 financial guidance. Two other trials for ziltivekimab in different patient populations remain ongoing.