Zealand Pharma slump wipes billions off company value after obesity drug data disappoints

Zealand Pharma A/S

06/03/2026 08:27

March 6 (Reuters) - Shares in Zealand Pharma ZELA.CO tumbled more than 30% on Friday, putting the Danish biotech firm on track for its worst trading day on record, after mid-stage trial results for obesity drug petrelintide fell short of investor expectations.

The drug, which Zealand is developing with Roche ROG.S, helped patients lose up to 10.7% of their body weight over 42 weeks in a study of 493 patients, according to results released on Thursday.

The outcome lags behind results reported for rival obesity treatments, including an amylin-based drug candidate from Eli Lilly LLY.N that produced weight loss of up to 20.1% in a comparable mid-stage trial.

"Potential for Wegovy-like efficacy, but with placebo-like tolerability does suggest this is a viable drug, though likely viewed as 2nd-best to Lilly's elora for now," Jefferies analysts said in a note to clients.

Losses in early trading wiped off 8.3 billion Danish crowns ($1.3 billion) from the company's market capitalisation.

($1 = 6.4350 Danish crowns)

(Reporting by Jesus Calero and Jagoda Darlak in Gdansk)

((jesus.calero@thomsonreuters.com))