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 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:

Novo Nordisk's U.S.-listed shares fell Monday morning following the release of data for a new phase 3 clinical trial of its in-development weight loss drug CagriSema.

STORY: Shares of Novo Nordisk tumbled 10% Monday morning after the drugmaker revealed weaker-than-expected data about its latest obesity drug candidate, CagriSema.Investors were hoping a second late-stage trial would show the drug was a more potent successor to Novo's blockbuster weight-loss drug Wegovy.

After Zepbound-maker Eli Lilly reduced the price of the weight-loss drug, competitor Novo Nordisk has cut the price of weight-loss drug Wegovy.

Novo Nordisk will start selling its obesity drug Wegovy directly to patients at a reduced price, following a similar move from Eli Lilly as the two drugmakers chase market share.

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.