Novo Nordisk shares plunge 19% after disappointing trial results; Lilly jumps in premarket

Shares of Novo Nordisk dropped over 24% after disappointing results in a trial for its CagriSema weight loss drug, which fell short of expectations with a 22.7% weight reduction. The stock recovered slightly to trade down 18.8%, while rival Eli Lilly’s obesity drug saw a 5% rise. Novo plans to further explore CagriSema’s potential after outperforming Wegovy in weight loss, with regulatory submission expected by 2025.

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