Novo Nordisk stock fell over 10% Monday after it said its next-generation weight loss drug didn’t meet its primary target.
The drug, CagriSema, didn’t achieve its primary endpoint of demonstrating non-inferiority on weight loss when compared to Eli Lilly‘s rival drug tirzepatide after 84 weeks, Novo said in a statement Monday morning.
Eli Lilly‘s stock rose 2.1% in premarket trading.
Novo is exploring additional trials to test CagriSema, including higher-dose combinations, it said.
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