Novo Nordisk has announced that the study for semaglutide in the treatment of Alzheimer did not meet its objectives, causing a 10% drop in shares.

Novo Nordisk's shares fell by up to 10% on Monday, reaching their lowest level in the last four years, after the company announced that its study for semaglutide, the active ingredient in the drugs Ozempic and Wegovy, failed to slow the progression of Alzheimer's disease. Although improvements in biomarkers were observed, there was no significant reduction in cognitive decline. Shares closed down 5.8%, and investors were disappointed with the results, considering the increasingly fierce competition in the market. Additionally, Novo underwent a major restructuring, replacing management and reducing its workforce by over 10%. Preliminary results of the study will be presented in December, and full data in 2026.