黑天鹅突现！“欧洲股王”盘前暴跌

Core Insights - Novo Nordisk's stock plummeted over 12% following the announcement of disappointing results from its EVOKE and EVOKE+ Phase 3 trials for semaglutide in treating early Alzheimer's disease, which failed to show significant efficacy compared to placebo [2][6] - The company will terminate the planned one-year extension studies for these trials due to the lack of evidence supporting the drug's effectiveness in slowing disease progression [2] Company Performance - Despite achieving $16.632 billion in sales for semaglutide in the first half of the year, Novo Nordisk's stock has seen a cumulative decline of over 53% this year, with a market value loss exceeding $60 billion [9][10] - The company has had to revise its annual performance guidance twice within a year, lowering sales growth expectations from 16%-24% to 8%-14% and operating profit growth from 19%-27% to 10%-16% [9] Market Context - Biogen's stock rose over 6% on the same day, indicating a potential shift in investor sentiment towards companies developing Alzheimer's treatments [5] - The impending expiration of semaglutide's core patent in China in 2026 poses a significant challenge, as local companies like Innovent Biologics are advancing their own GLP-1 drugs [9][12] Management Changes - Novo Nordisk is undergoing significant management upheaval, with the resignation of Chairman Helge Lund and six board members following the dismissal of CEO Lars Fruergaard Jørgensen earlier in the year [12][13] - The new CEO, Mike Dusseault, has initiated substantial layoffs and a strategic shift away from certain therapeutic areas, including cell therapy research, while investing $5.2 billion in acquiring Akero Therapeutics for liver disease treatment [12][13]