Novo Nordisk reported results on its next-generation obesity drug in diabetes patients, including data on weight loss that fell short of investors’ expectations.

Novo Nordisk on Monday revealed weaker-than-expected data from a second late-stage trial of its obesity drug candidate CagriSema, knocking shares and stoking worries that rival Eli Lilly may be gaining an edge over the company in the weight-loss drugs market.

Novo Nordisk said on Monday its experimental next-generation drug CagriSema helped overweight or obese patients with type 2 diabetes cut their weight by 15.7% after 68 weeks, but shares fell, likely on the lower-than-expected weight loss.

Denmark: CagriSema has demonstrated superior weight loss in adults with obesity or overweight and type 2 diabetes in the REDEFINE 2 trial, Novo Nordisk said in a release.The headline results

Novo Nordisk’s vision of 25%-plus weight loss is looking further and further away. | Novo Nordisk’s vision of 25%-plus weight loss is looking further and further away. Three months after missing that target in its first phase 3 CagriSema trial,

Roche agreed to develop a weight-loss drug with Danish biotech Zealand Pharma, pressuring Novo Nordisk and Eli Lilly.

Key Takeaways Roche moved to enter the booming weight-loss drug market now dominated by Novo Nordisk and Eli Lilly.The Swiss pharmaceutical firm signed an exclusive agreement with Zealand Pharma to produce treatments using Zealand's experimental petrelintide injectable.