Diabetes

Novo Nordisk Diabetes Lead Unscathed Following AstraZeneca Trial

Novo Nordisk stock popped Tuesday after AstraZeneca said its type 2 diabetes drug didn’t reduce the risk of cardiovascular events in a trial. (Roland Magnusson/Shutterstock)

NVO) stock popped Tuesday after AstraZeneca (AZN) said its type 2 diabetes drug didn’t reduce the risk of cardiovascular events in a trial, leaving Eli Lilly (LLY) to break the tie in 2019.

On the stock market today, Novo Nordisk fell 2 cents to 41.48, while AstraZeneca was up 0.4% to 34.08. Shares of Lilly, a diabetes rival, were up 1.3% to 77.99.

AstraZeneca’s drug Bydureon met its goal in a Phase 3 study. It did not increase the risk of major adverse cardiovascular events, including heart attack and stroke, in patients with type 2 diabetes — meeting a Food and Drug Administration requirement.

But it also didn’t reduce the risk, as Novo Nordisk’s Victoza and semaglutide did in earlier studies. Victoza cut the risk of cardiovascular events by 13%. Semaglutide trimmed the risk by 26%, Leerink analyst Seamus Fernandez…