Novo Nordisk makes £5.7 billion write-down after study

The Danish pharmaceutical giant Novo Nordisk's new potential blood pressure medicine has hit a snag.

A phase 3 study has not delivered the results that were expected. Now the company is making a write-down of 5.7 billion Danish kronor, equivalent to nearly 8.6 billion Swedish kronor.

The medicine is intended to be used for high blood pressure and chronic kidney disease. Novo Nordisk bought it in 2023 from KBP Biosciences PTE for 1.3 billion dollars.