Novo Nordisk blood pressure candidate ends in USD 817m flop

Novo Nordisk acquired ocedurenone from KBP Biosciences in 2023.

by MARKETWIRE ‎

Novo Nordisk has taken on an impairment charge of approximately DKK 5.7bn (USD 817m) following a failed study with a drug candidate for the treatment of uncontrolled high blood pressure and advanced chronic kidney disease.

”The CLARION-CKD Phase III study did not meet its primary endpoint and the company will recognize an impairment charge of approximately DKK 5.7bn related to the intangible asset ocedurenone in the second quarter of 2024,” Novo Nordisk wrote in a statement Wednesday afternoon.

Novo Nordisk acquired ocedurenone in 2023 from KBP Biosciences, which conducted the Phase 3 main indication trial.

According to the company, the impairment corresponds to an estimated negative impact of approximately 6 percentage points on operating profit growth in local currency in 2024 compared to the operating profit guidance announced in Novo Nordisk’s first quarter financial results.

”Novo Nordisk will announce its financial results for the first six months of 2024 and financial guidance for 2024 on August 7, 2024,” it said.

Novo Nordisk is now evaluating further development of ocedurenone in other indications.

English edit: Catherine Brett

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