On September 9, Novo-Nordisk A/S fell 3.08% in regular trading, trading at $45.165/share, with turnover of approximately $406 million. The decline was driven by the announcement that the company has terminated two Phase III clinical trials of its experimental cardiovascular drug ziltivekimab.

Novo-Nordisk A/S disclosed that an independent committee concluded the two trials, both targeting patients with heart failure and inflammation, were unlikely to produce results meaningfully different from an earlier failed study. The trials, known as the HERMES program, compared ziltivekimab against placebo and were designed to evaluate the drug's impact on the time to first heart-failure-related endpoints. Patients currently enrolled will continue through their planned three-month follow-up period.

The termination marks a significant blow to the company's cardiovascular pipeline. Novo-Nordisk A/S had positioned ziltivekimab, a once-monthly subcutaneous injection, as a key asset to diversify beyond its core diabetes and obesity business. However, a separate trial — ARTEMIS — evaluating ziltivekimab in an acute treatment setting following heart attack remains on track, with results expected in the first half of next year.

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