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%.

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.

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

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.

CagriSema produced an average 15.7% weight reduction in overweight or obese individuals with type 2 diabetes, according to the research results. Weight reduction under the trial product estimand (if all adhered to treatment) was 15.

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.