诺和诺德：司美格鲁肽延缓阿尔茨海默病进展试验失败！公司股价暴跌

Core Viewpoint - Novo Nordisk's stock plummeted over 12% pre-market and closed down 5.58% after the announcement that its trials for semaglutide in treating early Alzheimer's disease did not show efficacy compared to placebo [1] Group 1: Clinical Trial Results - The EVOKE and EVOKE+ trials failed to demonstrate that semaglutide could slow the progression of Alzheimer's disease better than a placebo, despite showing improvements in biological markers associated with the disease [1] - As a result of these findings, Novo Nordisk will terminate the planned one-year extension studies for these trials [1] Group 2: Market Reaction and Competitors - Biogen, which is also developing Alzheimer's drugs, saw its stock rise over 6% pre-market and closed up 0.87% on the same day [1] - In contrast, Novo Nordisk's stock has seen a significant decline, with a cumulative drop of over 53% this year, and a market capitalization loss exceeding $60 billion following the recent trial results [4] Group 3: Historical Context and Financial Performance - Novo Nordisk's stock previously reached a high of $143.636 per share, making it the "European stock king," but has since faced challenges, including a reduction in sales growth forecasts from 16%-24% to 8%-14% [4] - The company reported sales of $16.632 billion for semaglutide, marking it as a leading drug, but growth rates for its diabetes treatments have shown signs of fatigue [4] Group 4: Competitive Landscape - The expiration of semaglutide's core patent in China in 2026 poses a significant threat, with local companies like Innovent Biologics pushing forward with their own GLP-1 weight loss drugs [4][5] - Morningstar predicts that Innovent's drug, mazhitide, will contribute over 600 million RMB (approximately $84.4 million) in sales this year, potentially reaching 3.5 billion RMB by 2029 [5] Group 5: Management Changes - Novo Nordisk has experienced significant management upheaval, with the resignation of the chairman and six board members following the dismissal of the CEO earlier in the year [8] - The new CEO has initiated substantial layoffs and a strategic shift away from certain therapeutic areas, which has led to internal discord within the company [8]