Recent Updates
Recently added Catalysts
NVO Neutral Sentiment

Novo Nordisk provides update on the ZEUS phase 3 trial in people with ASCVD, CKD and inflammation

Key Takeaway: Novo Nordisk announced results from the ZEUS phase 3 trial, where ziltivekimab showed expected biological effects but failed to reduce major adverse cardiovascular events in patients with ASCVD, CKD, and inflammation. The trial involved over 6,300 participants and indicated similar rates of adverse events compared to placebo. Despite the lack of MACE benefits, Novo Nordisk remains committed to cardiovascular research.

Market Sentiment Analysis

POSITIVE FACTORS

  • Ziltivekimab demonstrated target engagement and inhibition of the IL-6 pathway.
  • The trial enrolled over 6,300 participants, indicating strong study design.
  • Overall rates of adverse events were similar to placebo, suggesting safety.

CONCERNS & RISKS

  • Ziltivekimab did not reduce major adverse cardiovascular events (MACE).
  • The study did not achieve the hoped-for MACE benefits.
  • A non-cash impairment charge is expected in Q3 2026.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+27%
120-day peak, hindsight
Typical move
3.5%
average across 15 past catalysts
Lead asset
Semaglutide J
Phase 1 · Healthy Participants

Full Press Release Details

Bagsværd, Denmark, 31 July 2026 – Novo Nordisk today announced headline results from the ZEUS cardiovascular outcomes phase 3 trial.

While ziltivekimab demonstrated target engagement and inhibition of the IL-6 pathway, as reflected by expected reductions in free IL-6 and high-sensitivity C-reactive protein (hsCRP) respectively, this did not translate into major adverse cardiovascular events (MACE) risk reduction versus placebo in people with atherosclerotic cardiovascular disease (ASCVD), chronic kidney disease (CKD) and inflammation (hazard ratio, 0.99; 95% confidence interval, 0.88 to 1.11) 1.
ZEUS was a double-blind, placebo-controlled trial enrolling over 6,300 people with ASCVD, CKD, and inflammation, as measured by hsCRP levels ≥2 mg/L. The trial evaluated once-monthly ziltivekimab 15 mg versus placebo for reducing the risk of MACE, defined as cardiovascular (CV) death, non-fatal heart attack or non-fatal stroke.
“ZEUS was designed to test whether inhibition of the IL-6 pathway could translate reductions in cardiovascular inflammation into fewer major cardiovascular events. Although ziltivekimab produced the expected biological effect, this did not result in MACE benefits in this population,” said Martin Holst Lange, executive vice president, chief scientific officer and head of Research and Development at Novo Nordisk. “While ziltivekimab did not achieve the MACE benefit we had hoped for, this does not change our strategic commitment to cardiovascular disease. The study provides important scientific evidence that will inform our ongoing cardiovascular research and the development of treatments for patients who continue to face substantial unmet need.”
Overall rates of adverse events (AEs) and serious AEs in people treated with ziltivekimab were similar to those observed with placebo. Consistent with targeting IL-6 inhibition, a higher proportion of people treated with ziltivekimab had serious infections compared to placebo. No difference in all-cause mortality was observed.
The two additional ongoing cardiovascular outcomes trials investigating ziltivekimab in people with heart failure (HERMES) and in people following an acute heart attack (ARTEMIS) are planned to continue and are anticipated to read out in the first half of 2027.
The outcome of ZEUS will not impact Novo Nordisk’s previously communicated adjusted operating profit outlook for 2026 but will result in a non-cash impairment charge in Q3 2026.
Full results of the ZEUS trial will be presented at an upcoming scientific meeting in 2026.
About ziltivekimab Ziltivekimab is an investigational, fully human monoclonal antibody that targets the IL‑6 ligand, a pro-inflammatory cytokine, to reduce cardiovascular inflammation and improve cardiovascular outcomes. It is being developed by Novo Nordisk for conditions such as cardiovascular disease, acute myocardial infarction (AMI) and heart failure with preserved ejection fraction (HFpEF).
About ZEUS ZEUS – an event‑driven cardiovascular outcomes trial investigating efficacy and safety with once-monthly subcutaneous ziltivekimab 15 mg versus placebo on top of standard of care in people with atherosclerotic cardiovascular disease (ASCVD), chronic kidney disease (CKD), and CV inflammation (hsCRP ≥ 2 mg/L).
Novo Nordisk is a leading global healthcare company founded in 1923 and headquartered in Denmark. Our purpose is to drive change to defeat serious chronic diseases built upon our heritage in diabetes. We do so by pioneering scientific breakthroughs, expanding access to our medicines and working to prevent and ultimately cure disease. Novo Nordisk employs about 68,800 people in 80 countries and markets its products in around 170 countries. Novo Nordisk's B shares are listed on Nasdaq Copenhagen (Novo-B). Its ADRs are listed on the New York Stock Exchange (NVO). For more information, visit novonordisk.com, Facebook, Instagram, X, LinkedIn and YouTube.

Publication of inside information pursuant to Market Abuse Regulation, Article 17.

Contacts for further information

Novo Nordisk Media:
Ambre James-Brown +45 3079 9289 globalmedia@novonordisk.com Liz Skrbkova (US) +1 609 917 0632 lzsk@novonordisk.com
Novo Nordisk Investors:
Michael Novod +45 3075 6050 nvno@novonordisk.com Sina Meyer +45 3079 6656 azey@novonordisk.com
Ida Schaap Melvold +45 3077 5649 idmg@novonordisk.com Christoffer Togo Solgaard-Tullin +45 3079 1471 cftu@novonordisk.com
Alex Bruce +45 3444 2613 axeu@novonordisk.com Mads Berner Bruun +45 3075 2936 mbbz@novonordisk.com
Frederik Taylor Pitter (US) +1 609 613 0568 fptr@novonordisk.com
Company announcement No 45 / 2026
1 Time to first occurrence of 3-point MACE – primary endpoint analysis – Cox regression – in-study – full analysis set

Frequently Asked Questions

What were the results of the ZEUS trial?

The ZEUS trial found that ziltivekimab did not significantly reduce major adverse cardiovascular events compared to placebo.

How many participants were in the ZEUS trial?

The ZEUS trial enrolled over 6,300 participants with ASCVD, CKD, and inflammation.

What is ziltivekimab used for?

Ziltivekimab is being developed to target cardiovascular inflammation and improve outcomes in cardiovascular disease.

What will happen next with ziltivekimab trials?

Ongoing trials, HERMES and ARTEMIS, will continue and are expected to report results in the first half of 2027.

Last updated: Jul 31, 2026