Novo Nordisk Stock Plummets After New Weight-Loss Drug Falls Short Against Rival

The logo of Danish pharmaceutical company Novo Nordisk is pictured at their headquarters in Bagsvaerd, Denmark, on Feb. 1, 2017. Liselotte Sabroe/Scanpix Denmark/AFP via Getty ImagesStock prices for Denmark-based Novo Nordisk dropped by more than 15 percent on Feb. 23 after the global healthcare firm announced disappointing results from a clinical trial of CagriSema.Known for its Ozempic injectable medication for treating diabetes and obesity, Novo Nordisk’s newest pharmaceutical just completed its phase 3 trial, called REDEFINE 4, an 84-week trial test of CagriSema, a combination of cagrilintide 2.4 mg and semaglutide 2.4 mg injectable.