Novo Nordisk shares plunge after obesity drug falls short of rival in trial

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Gold prices rise on fresh Trump tariff jitters; Russia sold holding in January Trump’s 15% global tariff; Waller to speak; oil drops - what’s moving markets Can gold rise to new highs above $5,600 in 2026? Bitcoin slips after earlier gains amid tariff volatility (South Africa Philippines Nigeria) Novo Nordisk shares plunge after obesity drug falls short of rival in trial By Scott Kanowsky Author Scott Kanowsky Stock Markets Published 02/23/2026, 04:53 AM Novo Nordisk shares plunge after obesity drug falls short of rival in trial 0 LLY -1.34% NOVOb -11.86% Investing.com - Copenhagen-listed shares of Novo Nordisk slumped by more than 10% in mid-morning trading on Monday, after the drugmaking giant said its experimental obesity medication CagriSema had not met a primary endpoint in an open-label head-to-head trial. Track Novo Nordisk shares with InvestingPro The study had been designed to show that CagriSema was not lagging behind major rival Eli Lilly ’s Tirzepatide in helping lower body weight. Novo, whose drugs Wegovy and Ozempic helped previously gain a strong foothold in the race to harness a burgeoning market for obesity treatments, has been grappling with fierce competition from Lilly and telehealth firms offering less expensive copycat versions. In 2025, shares of Novo sank by 49%. Last week, Novo said it would nominate two drug industry veterans to its board of directors, bringing fresh faces to its leadership committee following a recent overhaul. Lars Rebien Sorensen has been installed as board chairman, giving added influence to a voice which had criticized Novo management for not moving quicker to respond to challenges in the U.S. market. Reuters contributed reporting. (This is a developing story. Please check back later for updates.)