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Abbott Laboratories (ABT) - free report >>
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Novo Nordisk (NVO) Reports Positive Data on Diabetes Drug
Novo Nordisk (NVO - Free Report) announced positive results on its pipeline candidate, semaglutide, from the phase IIIa trial, SUSTAIN 4.
Semaglutide is an experimental analogue of native human glucagon-like peptide-1 (GLP-1) that stimulates insulin and suppresses glucagon secretion in a glucose-dependent manner.
Data from the trial showed that treatment with semaglutide, administered once-weekly, significantly improved glycemic control, compared to insulin glargine U100, in adults with type II diabetes. Results also showed that adults with type II diabetes, who were taking metformin with or without sulfonylurea, achieved statistically significant and superior improvements in HbA1c reductions of 1.2% and 1.6% when treated with 0.5 mg and 1.0 mg semaglutide, respectively, versus a 0.8% reduction with insulin glargine U100, from a mean baseline HbA1c of 8.2%.
These results were presented at the American Association of Clinical Endocrinologists 25th Annual Scientific and Clinical Congress (AACE), held in Orlando.
The company expects to file regulatory application for semaglutide in both the U.S. and the EU later in 2016. We believe that an early approval and successful commercialization of the candidate will boost the company’s top line significantly.
We note that Novo Nordisk has a strong presence in the Diabetes Care market, supported by one of the broadest diabetes portfolios in the industry comprising drugs like Victoza, Levemir and modern insulins.
The company expects sales to grow 5–9% in 2016, driven by continually strong performance of modern insulins Tresiba and Victoza as well as by contributions from Saxenda and Xultophy.
Novo Nordisk carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector include Abbott Laboratories (ABT - Free Report) , Johnson & Johnson (JNJ - Free Report) and Sanofi (SNY - Free Report) . All three stocks hold a Zacks Rank #2 (Buy).
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