Novo Nordisk shares plummeted more than 15% in trading Monday after the Danish pharmaceutical company announced its experimental obesity drug, CagriSema, failed to demonstrate a statistically significant weight loss advantage over Eli Lilly’s Zepbound in a head-to-head trial.
The trial data, presented Monday, showed CagriSema achieved a 23% reduction in body weight over 84 weeks. Although substantial, this result fell short of the 25.5% weight loss observed in patients taking Eli Lilly’s tirzepatide, marketed as Zepbound, according to reports from Reuters and US News & World Report.
The setback wipes out the gains Novo Nordisk’s stock had experienced following the success of its Wegovy weight loss medication, analysts noted. The company had positioned CagriSema as a potential successor to Wegovy, hoping for improved efficacy. The Danish business publication, Børsen, reported that Novo Nordisk is once again trailing Eli Lilly in the competitive weight loss drug market.
The disappointing results for CagriSema come as both companies vie for dominance in the rapidly expanding market for obesity treatments. Eli Lilly’s Zepbound has demonstrated strong clinical results and market uptake, putting pressure on Novo Nordisk to deliver a competitive product. MSN reported the stock drop occurred Monday.
Novo Nordisk did not immediately comment on the implications of the trial results beyond the initial data release. The company has not announced any changes to its development plans for CagriSema as of Monday afternoon.
