Dialysis-company stocks slide after Ozempic trial's success in treating kidney disease

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 41 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 97%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

DaVita’s stock was down 16%, while Baxter and Intuitive Surgical were down 9% and 6%

The trial success of Novo Nordisk’s hit drug against kidney failure sent shares of kidney dialysis services firms plummeting on Wednesday.

Baxter International BAX, -9.90%, which is planning to spin off its kidney care division, fell 9%, putting it on track for its lowest close since Oct. 19, 2015, when it closed at $34.02. “We see kidney disease as one of the areas where GLP-1s could potentially negatively impact the size of the relevant patient population over time,” said analysts at Citi led by Veronika Dubajova. “The early stopping of the FLOW trial indeed suggests such an impact; it also points to a somewhat faster effect than we had previously contemplated.”

Novo Nordisk’s Ozempic is the GLP-1 drug specifically for patients with Type 2 diabetes. The trial was of 3,534 people with Type 2 diabetes, with a median age of nearly 67 years, two-thirds of whom were at very high risk for chronic kidney disease progression.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dialysis company shares plunge after Ozempic trial success vs. kidney troubleSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
Source: MarketWatch - 🏆 3. / 97 Read more »

Food Stocks Are Falling. Don't Blame Ozempic.Packaged-food stocks are in the red as of late, and it may indicate that consumers are shifting to fresh produce, meat, deli, and bakery products.
Source: MarketWatch - 🏆 3. / 97 Read more »