Ozempic's Kidney Trial Success Sends Dialysis Stocks Plummeting
Kidney-dialysis stocks, including Fresenius Medical Care and DaVita, experienced significant declines after Novo Nordisk announced that its diabetes drug Ozempic showed potential in delaying the progression of kidney disease. Frankfurt-listed shares in Fresenius Medical Care fell nearly 8%, while the company's American depositary receipts dropped 17%. Similarly, stock in U.S.-listed DaVita crashed 17%.