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Investing.com -- Eli Lilly stock dropped 5% on Wednesday after rival Novo Nordisk announced disappointing results from its phase 3 trials evaluating semaglutide for Alzheimer’s disease.
The Danish pharmaceutical company reported that its EVOKE trials failed to demonstrate a statistically significant reduction in Alzheimer’s disease progression compared to placebo.
Following these results, Novo Nordisk will discontinue the planned one-year extension period in both the EVOKE and EVOKE+ trials.
The news appears to be affecting Eli Lilly shares as investors reassess the potential for GLP-1 drugs in treating neurodegenerative diseases.
Meanwhile, Biogen shares rose 2.7% in premarket trading, possibly as the competitive landscape for Alzheimer’s treatments shifts.
Novo Nordisk noted that while semaglutide improved certain biomarkers in the trials, this did not translate to delayed disease progression in Alzheimer’s patients. The company plans to present complete results at the Clinical Trials on Alzheimer’s Disease conference in December 2025.
The trial outcome represents a significant setback for Novo Nordisk’s efforts to expand applications for semaglutide beyond its current approved uses for type 2 diabetes and obesity, where it has achieved substantial success with brands including Ozempic and Wegovy.
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