Advertisement
Canada markets closed

  • S&P/TSX

    21,875.79
    -66.37 (-0.30%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • DOW

    39,118.86
    -45.20 (-0.12%)
     

  • CAD/USD

    0.7312
    +0.0011 (+0.15%)
     

  • CRUDE OIL

    81.46
    -0.28 (-0.34%)
     

  • Bitcoin CAD

    83,399.95
    +125.55 (+0.15%)
     

  • CMC Crypto 200

    1,267.13
    -16.69 (-1.30%)
     

  • GOLD FUTURES

    2,336.90
    +0.30 (+0.01%)
     

  • RUSSELL 2000

    2,047.69
    +9.35 (+0.46%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • NASDAQ

    17,732.60
    -126.08 (-0.71%)
     

  • VOLATILITY

    12.44
    +0.20 (+1.63%)
     

  • FTSE

    8,164.12
    -15.56 (-0.19%)
     

  • NIKKEI 225

    39,583.08
    +241.54 (+0.61%)
     

  • CAD/EUR

    0.6820
    +0.0003 (+0.04%)
     

Novo Nordisk ends kidney disease trial, books $816 million impairment in Q2

Reuters
·1 min read
FILE PHOTO: Novo Nordisk hopes to launch experimental obesity drug this decade

COPENHAGEN (Reuters) -Novo Nordisk said on Wednesday it would recognise an impairment loss of about 5.7 billion Danish crowns ($816.72 million) in the second quarter of 2024, after its CLARION-CKD phase 3 trial failed to meet its primary endpoint.

Novo has decided to stop its CLARION-CKD trial because it did not meet its primary endpoint of change in systolic blood pressure from baseline to week 12, the company said in a statement.

The impairment is related to ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, that Novo acquired from KBP Biosciences in October 2023, the Danish pharma giant said.

($1 = 6.9791 Danish crowns)

(Reporting by Louise Breusch Rasmussen, editing by Essi Lehto)