Amgen (AMGN) Rises Over 3% Amid Novo Nordisk Trial Results

Dec 20, 2024

Amgen (AMGN, Financial) shares increased by over 3%, reaching $269.61. This rise follows Novo Nordisk's announcement of the primary results from its REDEFINE 1 Phase 3 clinical trial. The trial evaluated the effectiveness of CagriSema treatment over 68 weeks. Patients experienced a 22.7% weight reduction, which fell short of the market's expectation of 25%.

Consequently, Novo Nordisk's stock plummeted by more than 20%.

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