The approval from Health Canada for the indications is based on the results of a trial in which Semaglutide 1 mg demonstrated a 24% reduction in the risk of kidney disease progression and cardiovascular and kidney mortality compared to placebo.
Danish drugmaker Novo Nordisk (NVO) on Tuesday said that its blockbuster drug Ozempic is now approved in Canada to reduce the risk of kidney function decline, end-stage kidney disease, and cardiovascular death in patients with type 2 diabetes and chronic kidney disease (CKD).
On Stocktwits, retail sentiment around NVO trended within the ‘neutral’ territory over the past 24 hours, while message volume remained at ‘normal’ levels. According to data from Stocktwits, retail chatter around the stock jumped 67% over the past 24 hours and by about 197% over the past seven days as of early hours on Tuesday.
A Stocktwits user said that they do not see much downside for the stock.
The approval from Health Canada for the indications is based on the results of a trial in which Semaglutide 1 mg demonstrated a 24% reduction in the risk of kidney disease progression and cardiovascular and kidney mortality compared to placebo. Semaglutide is the active ingredient in Ozempic.
The trial was initiated in 2019 and was stopped early due to efficacy, based on a recommendation from an Independent Data Monitoring Committee, the company said.
Ozempic is already indicated for the once-weekly treatment of adult patients with type 2 diabetes mellitus to improve glycemic control. It was approved by Health Canada in 2018.
CKD and type 2 diabetes are interconnected. Around 40% people with type 2 diabetes develop the disease. CKD is defined as the presence of kidney damage, or a decreased level of kidney function, for a period of three months or more. It is estimated to impact nearly four million Canadians.
Novo is currently attempting to increase the use cases for its GLP-1 category drugs, including Ozempic and the weight-loss drug Wegovy. Last week, the company said that the U.S. Food and Drug Administration has also approved Wegovy for the treatment of noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) in adults with moderate to advanced liver fibrosis. MASH is a serious liver disease characterized by fat accumulation, inflammation, and liver cell damage.
NVO stock is down by 37% this year and by about 60% over the past 12 months.
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