Soaring U.S. demand for Novo Nordisk's weight-loss drug has reduced the pressure from investors on the company to deliver strong results in its trial to test whether the drug also has medical benefits, eight investors and analysts say.
Brokerage Berenberg on Thursday published a poll of investors showing the trial may not need to show as big a health benefit for shares to rise as previously thought.in April, said Berenberg analyst Kerry Holford.
Most investors surveyed expected that if the study showed risk reduction of 17%, shares would rise 5 to 10%, while if it was between 15 to 17% risk reduction, shares could rise up to 5%.A year ago, investors said a risk reduction of 10 to 14% in the trial would put significant downward pressure on the stock, Holford said.
The SELECT results may not be strong enough to justify insurers paying the high price, UBS said. It costs about $1,300 a month in the United States.which showed investors would be disappointed with a result of less than 17% and a similar poll by Barclays in April.
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