Novo Nordisk Shares Tumble After Weight Loss Drug Trial Misses Expectations

Novo Nordisk shares plummeted 24% in London trading after its weight-loss drug CagriSema fell short of expectations, inducing a 22.7% weight loss compared to the forecasted 25%. Investor concerns triggered a midday recovery to an 18.8% loss. The setback comes amidst growing competition from Eli Lilly’s Zepbound, which outperformed Novo Nordisk’s Wegovy in recent trials.

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