Novo Nordisk A/S Securities Class Action Litigation

Introduction

Securities class action litigation has been filed on behalf of investors who purchased or otherwise acquired the securities of Novo Nordisk A/S (“Novo” or the “Company”) between November 2, 2022 and December 19, 2024, inclusive (the “Class Period”).

If you purchased or otherwise acquired Novo securities during the Class Period, you may move the Court for appointment as lead plaintiff by no later than March 25, 2025.

A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. Your share of any recovery in the actions will not be affected by your decision of whether to seek appointment as lead plaintiff. You may retain Lieff Cabraser, or other attorneys, as your counsel in the action.

Novo investors who wish to learn more about the litigation and how to seek appointment as lead plaintiff should complete the form below, text or email investorinfo@lchb.com, or call Lieff Cabraser partner Sharon M. Lee at 1-800-541-7358.

Background on the Novo Securities Class Action Litigation

Novo, a Danish company with its U.S. headquarters in Plainsboro, New Jersey, is a healthcare company focused on the research, development, manufacturing, and distribution of pharmaceutical productions to address diabetes, obesity and rare diseases.

The action alleges that, during the Class Period, Novo and certain of its senior executives made materially false and misleading statements and failed to disclose: (1) that Defendants created the false impression that they possessed reliable information pertaining to Novo’s projected successful outcome of the REDEFINE-1 study of its new experimental weight loss drug, CagriSema, while avoiding discussions centered around dosage tolerability as it related to the CagriSema; (2) that Novo’s claims that CagriSema would achieve at least 25% weight loss in the REDEFINE-1 study was not based on facts; and (3) that the REDFINE-1 study utilized a “flexible protocol” that limited the study’s ability to effectively provide weight loss data on the dosage tested, suggesting either that tolerability was significantly worse than expected, resulting in patients titrating down their dosages to avoid complications, or that the patient selection process was rushed and led to the onboarding of patients who did not seek to achieve the study’s 25% weight loss target.

On December 20, 2024, before the market opened, Novo announced disappointing results for the REDEFINE-1 trial, noting that CagriSema had achieved only a weight loss average of 22.7% after 68 weeks. In addition, Novo revealed, for the first time, that the study used a “flexible protocol, allowing patients to modify their dosing throughout the trial” and which resulted in only 57.3% of patients reaching the full dose of CagriSema. On this news, the price of Novo’s American Depositary Receipts (“ADRs”) fell 17.83% from its closing price on December 19, 2024, to close at $85.00 per share on December 20, 2024.