Novo Nordisk shares plunge 10% after heart drug Ziltivekimab fails late-stage trial

Published Jul 31, 01:33 PM UTC

Novo Nordisk shares fell as much as 10% on July 31, 2026, after the Danish drugmaker announced that its experimental heart drug, ziltivekimab, failed to achieve a statistically significant reduction in major adverse cardiovascular events (MACE) compared to a placebo in a late-stage trial involving over 6,300 patients with atherosclerotic cardiovascular disease, chronic kidney disease, and elevated inflammation. While the drug showed some biological effect, it did not translate into meaningful clinical benefit. Chief Scientific Officer Martin Holst Lange reaffirmed the company's strategic commitment to cardiovascular disease despite the setback. The failed trial is the latest blow to Novo Nordisk's pipeline, coming after disappointing results for its next-generation weight-loss drug CagriSema earlier in 2026. Analysts at Jefferies and Citi called the share move disproportionate given ziltivekimab's small portfolio contribution, but noted the result is strategically negative as it removes a key non-obesity growth opportunity. The company's shares have fallen about 70% from their mid-2024 peak amid intense competition from Eli Lilly.