Ozempic's Early Kidney Trial Success Causes Drop in Dialysis Providers' Shares
Shares of dialysis service providers DaVita and Fresenius Medical Care dropped significantly after Novo Nordisk's Ozempic showed early signs of success in treating kidney failure in diabetes patients. The Danish drugmaker announced that it will stop its kidney outcomes trial ahead of schedule based on a recommendation from the independent data monitoring board overseeing the study. GLP-1 drugs like Ozempic have been shown to improve both diabetes and obesity, potentially impacting the size of the dialysis patient population over time. Shares of Baxter International, which makes products used by dialysis therapy providers, also fell.