Novo Nordisk disclosed negative topline results from two Phase III trials testing oral semaglutide in Alzheimer’s disease; the drug did not slow clinical progression versus placebo. The company said biomarker effects were observed but did not translate into cognitive benefit in large patient cohorts with early impairment. The failures deliver a setback for the hypothesis that GLP‑1 receptor agonists can meaningfully alter neurodegeneration, dampening expectations for further late‑stage Alzheimer’s programs in the weight‑loss/diabetes class. Novo will reassess development plans and communicate next steps to investors and investigators. The outcome also recalibrates the field’s appetite for repurposing metabolic agents in neurology and will influence allocation of R&D capital toward other mechanisms.