Ozempic does not slow Alzheimer’s progression, its manufacturer Novo Nordisk said following a two-year study.

The popular drug reduces body weight by on average around 15% in obese patients, and early data suggested it may also slow the progress of some brain conditions, along with cancer, heart disease, liver, and kidney problems. The question had always been how much those changes were consequences of reducing obesity, or a confounding effect: Patients who take Ozempic might be more health-conscious.

There has been a tempering of some of the more exciting claims — it also failed to slow neurodegeneration in Parkinson’s patients — but the drugs’ impact on cardiovascular and kidney problems seems more robust. Novo’s shares fell 6% on the news.