Zealand Pharma shares fell as much as 13% after late-stage results for survodutide showed substantial weight loss and improved glycemic control but a high rate of gastrointestinal treatment discontinuation. In the 76-week Phase III SYNCHRONIZE-2 trial, 755 adults with obesity or overweight and type 2 diabetes received weekly survodutide injections at 3.6 milligrams or 6 milligrams, or placebo. Average weight loss reached up to 13.1%, compared with 3.1% for placebo, and up to 79.3% of treated participants achieved at least 5% weight loss, versus 32.7% in the control group. However, about 18% of survodutide recipients stopped treatment because of gastrointestinal adverse events, compared with 1.2% of placebo recipients. Patients generally discontinued during dose escalation, when the trial protocol gave doctors limited flexibility to adjust dosing after side effects emerged. The study met both co-primary endpoints and showed HbA1c reductions of up to 1.21 percentage points from a 7.4% baseline, alongside improvements in waist circumference and insulin sensitivity. Survodutide is an investigational glucagon/GLP-1 receptor dual agonist licensed by Zealand Pharma to Boehringer Ingelheim, which oversees global development and commercialization. The drug has not been approved in any jurisdiction. Further data from the SYNCHRONIZE-CVOT cardiovascular outcomes study are expected later in 2026.