Novo Nordisk makes impairment loss of $816 million in Q2

COPENHAGEN (Reuters) -Novo Nordisk said on Wednesday it would recognise an impairment loss of about 5.7 billion Danish crowns ($816.72 million) in the second quarter of 2024, after its CLARION-CKD phase 3 trial failed to meet its primary endpoint.

The impairment loss is related to the intangible asset ocedurenone, a drug for uncontrolled hypertension with potential application in cardiovascular and kidney disease, that Novo acquired from KBP Biosciences in October 2023, the Danish pharma giant said.

($1 = 6.9791 Danish crowns)