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.

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 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.

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. Lisa Bernhard has more.

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:

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.