Novo Nordisk shares plummeted as much as 10 percent after its cardiovascular drug, Ziltivekimab, failed to reduce the risk of major adverse cardiovascular events in a late-stage trial. The drug, designed to target a specific protein, did not significantly lower the incidence of heart attacks or strokes in patients with heart disease, chronic kidney disease, and inflammation.

This setback impacts Novo Nordisk's efforts to diversify its pipeline beyond its highly successful weight-loss medications, Wegovy and Ozempic, which accounted for over 90% of its sales last year. While the company stated the trial outcome would not affect its 2026 operating profit outlook, it will incur a non-cash impairment charge.

Martin Holst Lange, executive vice-president of R&D, affirmed Novo Nordisk's commitment to cardiovascular disease research, noting the study's scientific value for future development. Two other Ziltivekimab trials are ongoing, with results anticipated next year. However, analysts from BMO Capital expressed doubt about their positive outcomes, suggesting Novo might pursue acquisitions to diversify its pipeline.