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this post was submitted on 16 Oct 2023
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Medicine
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This is the best summary I could come up with:
Oct 10 (Reuters) - Novo Nordisk (NOVOb.CO) said on Tuesday it will stop a trial studying Ozempic to treat kidney failure in diabetes patients ahead of schedule because it was clear from an interim analysis that the treatment would succeed.
Novo said the trial would be halted almost a year early based on a recommendation from the independent data monitoring board overseeing the study.
Independent monitors can recommend stopping a trial early if there is clear evidence that a drug was going to succeed or fail based on interim analyses.
Barclays analyst Emily Field said in a note that the company's decision affirmed the view that GLP-1 receptor agonists like Ozempic have "therapeutic benefits far beyond their original intended purpose."
Since the start of the year, Novo has been riding a wave of demand for its highly effective semaglutide-based diabetes and weight-loss drugs that transformed the drugmaker into a $315 billion powerhouse.
The company briefly unseated luxury goods brand LVMH (LVMH.PA) as Europe's most valuable listed company in September, and has seen its shares rise by around 17% since it announced in August that a large study had shown Wegovy had clear cardiovascular benefits.
The original article contains 276 words, the summary contains 194 words. Saved 30%. I'm a bot and I'm open source!