Novo Nordisk signaled openness to larger acquisitions while targeting over five multi-blockbuster drug launches by 2030, though its stock fell 8% at a Capital Markets Day. Smaller obesity biotech stocks including Viking Therapeutics, Structure Therapeutics, and Altimmune rose on the news, with their experimental weight-loss drugs showing efficacy ranging from 12.2% to 16.2%.
Viking Therapeutics' stock surged on positive clinical trial results for its obesity drug VK2735, which showed strong weight-loss maintenance across different dosing schedules. The news caused shares of competitors Eli Lilly and Novo Nordisk to decline.