Vials on the Wegovy line on the Novo Nordisk A/S manufacturing services in Hillerod, Denmark, on Friday, March 8, 2024.
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LONDON — Shares of Denmark’s Zealand Pharma popped almost 23% in Friday morning offers, notching a document excessive after an early-stage examine of its weight reduction drug challenger produced optimistic outcomes.
The corporate mentioned Thursday {that a} course of 16 weekly excessive doses of long-acting amylin analog petrelintide lowered physique weight by as much as 8.6% on common within the examine. A placebo drug led to a physique weight lower of 1.7%.
One out of 48 examine individuals withdrew as a result of unfavorable results.
Petrelintide was “judged to be safe and well tolerated at all dose levels” and the outcomes supplied “robust support” for its potential as an alternative choice to GLP-1 receptor agonist-based therapies for weight administration, Zealand Pharma mentioned in a launch.
GLP-1RA-based therapies embody Ozempic, the diabetes drug produced by fellow Danish pharmaceutical agency Novo Nordisk, which has exploded in recognition globally for its weight-loss results. Hovering demand for Ozempic and weight problems drug Wegovy have propelled Novo Nordisk to change into Europe’s most beneficial firm.
The previous couple of years have seen an ever-intensifying race to provide rival therapies, drawing in dozens of challengers to market leaders Novo Nordisk and the U.S.’ Eli Lilly.
David Kendall, chief medical officer of Zealand Pharma, mentioned that the petrelintide examine helps the corporate’s conviction that the drug “is very well tolerated and can potentially play an important role as an alternative to incretin-based therapies for the management of overweight and obesity.”
It may “deliver weight loss comparable to GLP-1 receptor agonists with a better patient experience,” Kendall added.
The corporate now plans to check petrelintide in a Section 2 mid-stage medical trial.
Analysts at Jefferies mentioned in a Thursday word that the preliminary outcomes point out that the drug “ticks all the boxes.” They help a “possible role for amylin as a more tolerable alternative to GLP-1s,” with the potential for weight reduction “at least on a par.”
Zealand Pharma is individually testing the potential weight reduction drug drug survodutide in a partnership with Germany’s Boehringer Ingelheim. Postive Section 2 trial outcomes for that drug in February boosted Zealand’s share value on the time.
Zealand Pharma share value.
