Judge lets CagriSema investor suit against Novo Nordisk proceed
Shareholders allege Novo obscured that REDEFINE-1 used flexible dosing, with only 57% of participants reaching the highest dose of the semaglutide-cagrilintide combination.
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By Daniel Okafor · Regulatory Correspondent
Jul 29 03:00 ETSource: CNBC
The wire
- 01Judge Robert Kirsch ruled in a 56-page opinion that investors plausibly alleged statements on CagriSema tolerability and REDEFINE-1 trial design may have been misleading, allowing parts of the case into discovery.
- 02The dispute turns on tolerability and dose escalation in amylin-GLP-1 combinations, the same design questions clinicians weigh when interpreting weight-loss percentages from obesity trials.
- 03The ruling does not find securities fraud; Novo says the allegations are meritless and will defend vigorously. CagriSema delivered 20.4% average weight loss versus roughly 25% expected.
From the source
Read at cnbc.comWhy shareholders are suing Novo Nordisk over next-generation weight-loss drug
Novo Nordisk shareholders are suing the drugmaker over its experimental obesity treatment CagriSema, alleging the company misled investors about a key clinical trial before releasing disappointing results that wiped billions of dollars off its market value.