Dialysis company shares plunge after Ozempic trial success vs. kidney trouble

📆 10/11/2023 1:59 AM
📰 MarketWatch

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Steven 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.

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

Fresenius Medical Care shares XE:FME FMS slumped 23%, and shares of its part owner Fresenius XE:FRE lost 12%, after Novo Nordisk halted a trial of semaglutide versus placebo on the progression of renal impairment in people with type 2 diabetes and chronic kidney disease early because of its efficacy.

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