Novo Nordisk kidney failure only ‘modest negative,’ says BMO Capital

BMO Capital analyst Evan Seigerman says Novo Nordisk’s acquired asset, ocedurenone, failed in a pre-specified interim analysis for the Phase 3 CLARION-CKD trial testing ocedurenone in patients with uncontrolled hypertension and advanced chronic kidney disease, resulting in an $800M impairment charge. While today’s news is a “modest negative for Novo sentiment,” most investors will view this as only a minor setback and are more focused on upcoming incretin revenues in the Q2 earnings report, the analyst tells investors in a research note. BMO says the failure of ocedurenone represents only a minor contributor to broader revenue expectations.