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Published February 13, 2025
Pharmaceutical giant Novo Nordisk made investors sick when it revealed a weight loss study went wrong. Angry investors turned the scales against Novo and tossed out their shares, sending Novo’s share price tumbling over 17% in just one day. Now, some investors have filed class-action against the Company to recover their losses.
Novo conducted the REDEFINE study on obesity treatment. The study looked at Novo’s new drug, CagriSema, in combination with Wegovy.
The study design said participants would receive a set dose of CagriSema and Wegovy.
For nearly two years, Novo’s CEO repeatedly said participants would lose at least 25% of their body weight. But, the lawsuit says he wasn’t being honest.
In December 2024, Novo published the study results. Investors were stunned to find out Novo let participants vary their dosage – a big change from the study protocol. And, participants lost an average of 22.7%t of their body weight. Analysts called that a huge disappointment and a major difference from the promised 25% weight reduction.
Stunned investors quickly dumped their shares after learning of the study results. Now, some investors are joining the lawsuit.