The share of the Danish pharmaceutical company Novo Nordisk crashed on the stock exchange on Friday after disappointing results from a study into a new weight loss drug. At one point, the stock fell as much as 27 percent, causing $120 billion in market value to go up in smoke.
Novo Nordisk published the results of a study into CagriSema on Friday. The results showed that patients had lost an average of 22.7 percent weight, while the company and investors had previously targeted at least 25 percent.
As a result, the stock on the stock exchange took a big dive. It is currently trading 17 percent lower.
Novo Nordisk is the company behind the popular weight loss drug Ozempic.
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