Novo Nordisk Ends Kidney Disease Trial, Books $816 Mln Impairment in Q2

Reuters06-26

COPENHAGEN, June 26 (Reuters) - Novo Nordisk said on Wednesday it would recognise an impairment loss of about 5.7 billion Danish crowns ($816.72 million) in the second quarter of 2024, after its CLARION-CKD phase 3 trial failed to meet its primary endpoint.

The shares dropped 2% in morning trading.

Novo has decided to stop its CLARION-CKD trial because it did not meet its primary endpoint of change in systolic blood pressure from baseline to week 12, the company said in a statement.

The impairment is related to ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, that Novo acquired from KBP Biosciences in October 2023, the Danish pharma giant said.

($1 = 6.9791 Danish crowns)

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