New trial data showed the drug helped obese or overweight type 2 diabetics lose an average 15.7% of their weight, when an earlier study recorded 22.7%.

Key Takeaways Novo Nordisk's U.S.-listed shares fell Monday after it released the latest results for its developmental weight loss drug CagriSema.The average weight loss among those taking the new drug was 15.

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

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,

Novo Nordisk has reported the second phase 3 trial of its new obesity hopeful CagriSema but, as with the first, the topline weight-loss result has sent its shares into a sharp decline.

Novo Nordisk stock tumbled Monday morning after disappointing trial results for its CagriSema weight-loss drug. Shares in rival Eli Lilly also sold off. Find out more:

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.