Timeline
February 23, 2026 — February 27, 2026
Business
Timeline: How Novo Nordisk's Obesity Drug Setback Unfolded Over 5 Days
In late February 2026, Novo Nordisk faced a major setback when its next-generation obesity drug CagriSema failed to match competitor Eli Lilly's tirzepatide in clinical trials. This timeline tracks the immediate market reaction, the company's strategic response through a partnership deal, and the ultimate erosion of its previous weight-loss drug gains over five critical days.
6 events · 4 days · 10 source articles
Mon, Feb 23, 2026
Major
Novo Nordisk announces disappointing CagriSema trial results
Novo Nordisk revealed that its next-generation obesity drug CagriSema achieved only 20.2% weight loss over 84 weeks compared to 23.6% for Eli Lilly's tirzepatide in the REDEFINE 4 head-to-head study. The once-weekly injection's 23% weight loss figure was lower than some existing treatments, and the results failed to demonstrate statistical equivalence to Lilly's Zepbound/Mounjaro. This represented a significant setback for Novo's attempts to regain ground in the competitive obesity market.
Mon, Feb 23, 2026
Major
Danish stock market plunges on Novo Nordisk news
The disappointing clinical trial data sent shockwaves across Denmark's entire equity market, dragging down the wider market and underscoring how tightly the country's economic fortunes are tied to the obesity-drug maker. Novo Nordisk's shares experienced a sharp drop as investors reacted to the negative trial results.
Mon, Feb 23, 2026
Moderate
Novo's Chief Scientific Officer addresses results and pipeline
Chief Scientific Officer Martin Holst Lange appeared on Bloomberg to discuss the CagriSema trial results and outline Novo Nordisk's broader obesity treatment pipeline. The company sought to reassure investors about its future prospects despite the setback with its next-generation drug candidate.
Wed, Feb 25, 2026
Major
Novo Nordisk partners with U.S. startup Vivtex on oral drugs
In a strategic move to strengthen its pipeline, Novo Nordisk announced a partnership with Boston-based Vivtex, a biotech co-founded by MIT professor and Moderna co-founder Robert Langer. The deal focuses on developing oral alternatives to injected obesity and diabetes drugs, intensifying the rivalry with Eli Lilly in the weight loss medicine market.
Thu, Feb 26, 2026
Moderate
Details emerge on $2.1 billion Vivtex partnership
Full terms of the Novo Nordisk-Vivtex partnership were revealed, showing a deal worth up to $2.1 billion including upfront consideration, research funding, milestone payments, and tiered royalties. Vivtex will license select oral drug-delivery technologies to Novo Nordisk for developing next-generation oral biologic medicines for obesity, diabetes, and associated comorbidities. Novo emphasized its history as a pioneer in oral biologics, having launched the first-ever oral biologic over five years prior.
Fri, Feb 27, 2026
Major
Novo Nordisk erases all Wegovy-fueled stock gains
By the end of the week, the weight loss-fueled gains that Novo Nordisk had accumulated from its successful Wegovy obesity drug were officially wiped out. The torrid week following the CagriSema trial failure had completely eliminated the stock's previous rally, marking a dramatic reversal of fortune for the Danish pharmaceutical giant.
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