Novo Nordisk and Eli Lily Shares slid Wednesday after Roche announced promising early-stage trial data from its newest obesity drug candidate.
The Swiss pharmaceutical giant said Wednesday that the second drug candidate from the purchase of Carmot Therapeutics showed positive results, more competition in the weight loss drug market.
Roche shares rose in early trade and were trading 5.87% higher at 11:17 a.m. in London.
Shares of Wegovy maker Novo Nordisk fell 3.77%, while Zepbound producer Eli Lilly was 2.7% lower in pre-market trade.
Shares of Danish biotech company Zealand Pharma, which is also developing its own obesity treatment, also fell more than 5.6%.
Roche said the experimental once-daily pill CT-996 led to a placebo-like average weight loss of 6.1% over four weeks in obese patients without Type 2 diabetes in a Phase I trial.
“We are pleased to see clinically significant weight loss in people treated with the oral GLP-1 therapy CT-996, which may ultimately help patients address chronic weight management and glycemic control indications,” said Roche Chief Medical Officer Levi Garraway. Wednesday’s statement.
The result comes as competition mounts in the fast-growing weight loss drug sector, with Roche oral pills likely to provide an attractive alternative for patients who do not like injections.
Roche completed its acquisition of anti-obesity drug developer Carmot Therapeutics in January, and in May the company released promising early-stage data for its weight-loss drug candidate, CT-388.
However, Roche Pharmaceuticals CEO Teresa Graham told CNBC in December that it could be several years before an oral obesity treatment becomes available.
(tagsTo Translate)Top News: Markets
