Novo Nordisk's Alzheimer's Trials Fall Short of Expectations

Written by Emily J. Thompson, Senior Investment Analyst

Source: Reuters

Updated: Nov 24 2025

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Source: Reuters

Trial Results: Novo Nordisk's Alzheimer's trials failed to show any significant slowing of cognitive decline, leading to a nearly 10% drop in share price, which wiped out around $20 billion in market value.
Investor Sentiment: Analysts noted that the share price decline was largely sentiment-driven, as many had anticipated the trials would fail, and the company had previously described the studies as high-risk.
Market Impact: The potential for semaglutide to treat Alzheimer's was seen as a significant opportunity, but its failure to meet trial goals disappointed investors, despite the understanding that the trials were a long shot.
Competitive Landscape: The failure of the trials does not fundamentally alter Novo's competitive position in the GLP-1 market, where it faces challenges from competitors like Lilly and cheaper alternatives.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.