Shareholders sue Novo Nordisk over CagriSema weight-loss drug trial disclosures
A US federal judge allowed parts of a shareholder lawsuit against Novo Nordisk to proceed, alleging the company misled investors about the tolerability and trial design of its next-generation weight-loss drug CagriSema. The lawsuit centers on December 2024 clinical trial results showing average weight loss of 20.4%, below market expectations of 25%, which wiped billions off Novo's market cap. Investors claim Novo failed to disclose that only 57% of participants reached the highest dose due to a flexible dosing protocol, misleading statements about fixed-dose design and tolerability. The judge rejected most claims but allowed those related to tolerability and trial protocols to advance. Novo denies wrongdoing and plans to vigorously defend itself. The case highlights intense competition in the GLP-1 drug market, particularly with Eli Lilly.
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