黑天鹅突现！“欧洲股王”盘前暴跌

Core Viewpoint - Novo Nordisk's stock plummeted over 12% following the announcement of disappointing results from its EVOKE and EVOKE+ Phase 3 trials for the treatment of early-stage Alzheimer's disease, indicating that semaglutide did not outperform placebo in slowing disease progression [2][3]. Group 1: Clinical Trial Results - The EVOKE and EVOKE+ trials showed that while semaglutide improved Alzheimer's-related biomarkers, it did not translate into a delay in disease progression [2]. - As a result of these findings, Novo Nordisk will terminate the planned one-year extension studies for these trials [3]. Group 2: Market Reaction - Biogen, which is also developing Alzheimer's drugs, saw its stock rise over 6% on the same day that Novo Nordisk's stock fell [5]. - The market had previously reacted positively to the potential of semaglutide in treating Alzheimer's, with a significant stock price increase when the trials were announced [7]. Group 3: Company Performance and Challenges - Novo Nordisk's stock had previously reached a high of $143.636 per share, but has since seen a cumulative decline of over 53% this year, with a market capitalization loss exceeding $60 billion [10]. - The company has had to revise its annual performance guidance downward twice within a year, reducing sales growth expectations from 16%-24% to 8%-14% [10]. - The expiration of the core patent for semaglutide in China in 2026 poses a significant challenge, as local competitors are advancing their own GLP-1 drugs [10][14]. Group 4: Management Changes - Novo Nordisk is undergoing significant management upheaval, with the resignation of the chairman and several board members following the appointment of a new CEO who has initiated major layoffs and strategic shifts [15][16]. - The new CEO's decision to acquire Akero Therapeutics for $5.2 billion has sparked discontent within the board, leading to the recent leadership crisis [16].