Key Takeaways

Novo Nordisk ( NVO ) shares rose Monday as the company said it would present new data on the ability of semaglutide, the active ingredient in its weight-loss drugs Ozempic and Wegovy, to lower heart risks.

The Danish drug developer is slated to take part in the American College of Cardiology Scientific Session and Expo, which runs March 29 to 31. Its presentations “will provide new information about semaglutide medicines to reduce cardiovascular risk,” focusing on conditions including type 2 diabetes, obesity, peripheral arterial disease, and chronic kidney disease.

Shares of Novo Nordisk were up more than 3% in intraday trading Monday, recovering some of the stock's losses last week following disappointing results from a phase 3 trial of its in-development weight loss drug CagriSema. Novo reported the average weight loss among patients taking the drug was 15.7% of their body weight after 68 weeks, whereas the drugmaker had reportedly been aiming for 25%.

Despite Monday's gains, shares of Novo Nordisk are down about 7% for the year so far, and have lost 40% of their value in the past 12 months.

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