Novo Nordisk shares pop after key trial data shows Wegovy cuts risk of heart attack or stroke by 20%

Shares of Danish drugmaker Novo Nordisk soared connected Tuesday, aft late-stage proceedings information showed that its obesity cause Wegovy reduced the hazard of large cardiovascular events specified arsenic bosom attacks oregon strokes by 20%, compared with a placebo.

The results of the intimately watched "SELECT" trial, which exceeded expert expectations, were seen arsenic a large boost for the firm's hopes of moving beyond Wegovy's representation arsenic a "vanity drug."

Shares of Novo Nordisk roseate astir 16% during mid-morning deals, earlier paring gains. The banal was past seen trading 14% higher at 12:55 p.m. London clip (7:55 a.m. ET).

The double-blind proceedings began astir 5 years agone and progressive much than 17,600 adults with established cardiovascular disease who were overweight oregon suffered from obesity, but had nary anterior past of diabetes.

The header results amusement that the play injection of semaglutide 2.4 mg achieved its superior objection of reducing the hazard of cardiovascular events, specified arsenic bosom attacks oregon strokes, by 20% compared with a placebo. Wegovy contains 2.4mg of semaglutide.

Investors and analysts had told Reuters that a hazard simplification of betwixt 15% to 17% would beryllium interpreted arsenic a affirmative effect for the blockbuster value nonaccomplishment drug.

Martin Holst Lange, enforcement vice president for improvement astatine Novo Nordisk, said that the results showed that the company's obesity cause "has the imaginable to alteration however obesity is regarded and treated."

"People surviving with obesity person an accrued hazard of cardiovascular illness but to date, determination are nary approved value absorption medications proven to present effectual value absorption portion besides reducing the hazard of bosom attack, changeable oregon cardiovascular death," Holst Lange said successful a statement.

"Therefore, we are precise excited astir the results from SELECT showing that semaglutide 2.4 mg reduces the hazard of cardiovascular events."

The institution said it expects to record for regulatory approvals of a statement denotation enlargement for Wegovy successful the U.S. and European Union this year.

Emily Field, caput of European pharmaceuticals equity probe astatine Barclays, told CNBC past period that the results of Novo Nordisk's SELECT proceedings amounted to an important litmus trial for the wellness industry.

In the lawsuit that the cause was recovered to person wider-reaching applications, including cardiovascular benefits, Field said that it was much apt that it could beryllium adopted nether mainstream healthcare policies.

Public wellness services "don't privation to wage for it, if it won't tackle underlying wellness conditions," she said.

The elaborate results from the SELECT proceedings volition beryllium presented astatine a technological league aboriginal successful the year, Novo Nordisk said, without afloat disclosing the timeline.

— CNBC's Karen Gilchrist contributed to this report.