- An independent data monitoring committee judged a low likelihood that the two additional heart-failure studies would differ from the earlier ziltivekimab failure, prompting Novo Nordisk to stop them early.
- The halt further narrows Novo Nordisk's cardiovascular pipeline and deepens its reliance on the obesity and diabetes franchise, where Eli Lilly is the primary competitor.
- One ziltivekimab study continues in patients recovering from a heart attack, with results expected in H1 2027.
- The oral Wegovy pill has generated more than 2 million prescriptions since its January 2026 launch, giving Novo Nordisk a growth lever in the oral GLP-1 market.
- Hedge fund holdings in Novo Nordisk rose to $2.00 billion across 59 funds in Q2 from $1.79 billion across 55 funds in Q1, while Eli Lilly's holder count rose to 152 funds from 132 and position value to $17.24 billion from $12.58 billion.
Quotes
“On September 7, 2026, Reuters reported that Novo Nordisk A/S (NYSE: NVO) halted two additional trials of its experimental cardiovascular drug ziltivekimab, further denting the Danish drugmaker's efforts to diversify beyond its blockbuster obesity and diabetes franchise.”
“An independent data monitoring committee found a "low likelihood" that the two additional heart-failure studies would produce a different result from that earlier failure, prompting Novo to end them ahead of schedule.”
“The remaining ziltivekimab trial also carries real downside risk.”
“Eli Lilly's holder count jumped further ahead over the same period, to 152 funds from 132, with position value surging to $17.24 billion from $12.58 billion, underlining how much more conviction hedge funds currently have in Lilly than in Novo.”