10:58 AM EST, 11/24/2025 (MT Newswires) -- Novo Nordisk's ( NVO ) US-listed shares tumbled intraday Monday as the Danish pharmaceutical giant said that Alzheimer's trials using semaglutide failed to show a slowdown in disease progression.

Novo's Wegovy weigh-loss drug and its Ozempic diabetes treatment contain semaglutide.

The company conducted two phase-three studies of semaglutide, covering about 3,808 adult patients.

"While treatment with semaglutide resulted in improvement of Alzheimer's disease-related biomarkers in both trials, this did not translate into a delay of disease progression," Novo said.

Novo's New York Stock Exchange-listed shares declined 7.1% in Monday trade. The stock has lost 49% so far this year.

The company sought to investigate a potential treatment of Alzheimer's disease with semaglutide based on "real-world evidence studies," pre-clinical models and analyses from diabetes and obesity trials, it said.

"Based on the significant unmet need in Alzheimer's disease as well as a number of indicative data points, we felt we had a responsibility to explore semaglutide's potential, despite a low likelihood of success," Chief Scientific Officer Martin Holst Lange said in a statement.

Last week, the Danish drugmaker announced that it lowered the prices of Wegovy and Ozempic for self-paying patients in the US, following a recent agreement with the Trump administration to expand access to the products.

Earlier in November, the company reported third-quarter earnings of 4.50 kroner ($0.69) per share, down from 6.12 kroner a year earlier. Sales improved to 74.98 billion kroner from 71.31 billion kroner.

At the time, Novo cut the top end of its full-year sales growth outlook due to reduced growth expectations for its glucagon-like peptide-1 treatments within diabetes and obesity.

Price: 43.91, Change: -3.73, Percent Change: -7.82