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Deutsche Bank warns Novo Nordisk's ZEUS trial likely to miss with limited upside amid 2031 patent cliff.

Market News
19 Jun 2026
Proactive Investors
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Bearish
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Deutsche Bank expects Novo Nordisk's ZEUS trial for the drug ziltivekimab to likely fail, with limited potential upside even if successful, due to a looming $30 billion patent cliff in 2031. The trial's outcome is seen as a "sell the news" event, as market expectations are low and the drug's commercial impact would not significantly alter the company's long-term outlook. The key challenge for Novo Nordisk remains developing new blockbuster drugs to offset revenue losses from patent expirations.

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