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Novo Nordisk A/S NVO announced positive results from the post-hoc analysis of the cardiovascular (CV) outcomes study, LEADER on Victoza.
We note that Victoza, glucagon-like peptide-1 (GLP-1) analogue, is Novo Nordisk's key drug and is approved for the treatment of type II diabetes.
The study is evaluating the long-term effects of Victoza compared to placebo, both in addition to standard of care, in patients with type II diabetes at high risk of major CV events.
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Novo Nordisk's share price shows that the company has outperformed the Zacks classified Large Cap Pharmaceuticals industry year to date. The stock rallied 22.5% compared with the industry's gain of 10.8%.
Notably, the study showed that the treatment with Victoza resulted in similar reductions in the risk of major cardiovascular events in patients with type II diabetes at high CV risk irrespective of whether they experienced severe hypoglycaemia during the trial.
The people who experienced severe hypoglycaemic episode had a higher chance of major cardiovascular adverse events, CV-death or non-CV death. The risk of a CV event was much more within 60 days of occurrence of a severe hypoglycaemic episode. However, the patients who received Victoza experienced significantly fewer episodes of severe hypoglycaemia when compared to placebo, both in addition to standard of care.
In another release, Novo Nordisk also announced primary results from DEVOTE trial comparing two basal insulins, Tresiba (insulin degludec injection 100 U/mL) and insulin glargine U100, in adults with type II diabetes at high risk of disease. The study showed that Tresiba met primary endpoint of non-inferiority compared with insulin glargine u100 for major adverse CV events.
Additionally, the results from secondary endpoints of the study showed significant reduction in rate of severe and nocturnal severe hypoglycaemia with Tresiba versus insulin glargine u100. In fact, Tresiba showed no increased risk of major cardiovascular events and significant reduction in rates of severe hypoglycaemia compared to insulin glargine.
Both Victoza and Tresiba are strong contributors to the company's revenues and positive data from the trails for both the drugs bode well for the company.
Zacks Rank and Stocks to Consider
Novo Nordisk carries a Zacks Rank #3 (Hold). Better-ranked stocks in health care sector include VIVUS, Inc. VVUS, MEI Pharma, Inc. MEIP and Sanofi SNY. While VIVUS and MEI Pharma sport a Zacks Rank #1 (Strong Buy), Sanofi carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
VIVUS' loss per share estimates narrowed from 502 cents to 39 cents for 2017 over the last 60 days. The company posted positive earnings surprises in all four trailing quarters, with an average beat of 233.69%. The share price of the company increased 1.8% year to date.
MEI Pharma's estimates moved up from loss per share of 1 cent to gain per share of the same for 2017, over the last 60 days. The company posted positive earnings surprises in three of the four trailing quarters, with average beat of 66.56%. The share price of the company increased 38.2% year to date.
Sanofi's earnings per share estimates increased from $3.08 to $3.18 for 2017 and from $3.26 to $3.30 for 2018 over last 30 days. The company posted positive earnings surprises in two of four trailing quarters, with average beat of 5.10%. The share price of the company increased 17.7% year to date.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.