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Shares of dialysis providers drop after Ozempic's early kidney trial success

U.S.-listed shares of Fresenius fell 16.4%, to $17.5, and Davita fell about 16%, to $76.7, in premarket hours. Shares of U.S.-based Baxter International, which makes products used by dialysis therapy providers, also fell about 9%, to $33.99 premarket. The announcement makes the rationale for the use of GLP-1 drugs, including Eli Lilly's Mounjaro, in diabetes patients with chronic kidney disease even stronger, Jefferies analyst Akash Tewari said in a note.
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