SAN FRANCISCO, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Novo Nordisk A/S (NYSE: NVO) is facing a class-action lawsuit from investors who allege the pharmaceutical giant misled them about the prospects of its experimental obesity drug, CagriSema.  

Hagens Berman urges investors who purchased Novo Nordisk shares and suffered substantial losses to submit your losses now. The firm also encourages persons with knowledge of the trial and its design to contact the firm’s attorneys.

Novo Nordisk A/S (NVO) Securities Class Action:

The suit, filed in the U.S. District Court for the District of New Jersey and captioned Moon v. Novo Nordisk A/S, No. 25-cv-00713, accuses the company and certain top executives of securities violations related to disclosures about the drug’s Phase 3 trial, dubbed REDEFINE-1.  

The plaintiffs, representing investors who purchased Novo Nordisk securities between Nov. 2, 2022, and Dec. 19, 2024, claim the company misrepresented the likelihood of CagriSema achieving at least 25% weight loss in the study. The suit alleges that Novo Nordisk created a “false impression” of reliable data supporting this projection, while downplaying concerns about dosage tolerability.

Specifically, the lawsuit contends that the company’s “repeated optimistic claims” about CagriSema’s potential fell short of reality. It further argues that the trial’s “flexible protocol,” which allowed patients to adjust their dosage, hampered the study’s ability to accurately assess weight loss at the tested dosage. This, the suit suggests, indicates either worse-than-anticipated tolerability, forcing patients to lower their doses, or a rushed patient selection process that included individuals not aiming for the targeted 25% weight loss.

The complaint highlights the company’s December 20, 2024, announcement of headline results from the REDEFINE-1 trial. The disclosure revealed that the study utilized a flexible dosing protocol and that, after 68 weeks, only 57.3% of patients on CagriSema were on the highest dose, compared to 82.5% for cagrilintide and 70.2% for semaglutide, the other drugs being compared.

Following this announcement, Novo Nordisk’s stock price dropped nearly 18%, according to the lawsuit. The plaintiffs argue this decline demonstrates the impact of the alleged misrepresentations on investors.

Shareholder rights firm Hagens Berman is investigating the complaint’s allegations.

“We’re examining whether Novo Nordisk may have intentionally misled investors about the trial’s design and potential tolerability issues,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Novo Nordisk and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Novo Nordisk case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Novo Nordisk should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email NVO@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

Contact:
Reed Kathrein, 844-916-0895