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Novo Nordisk's stock tumbled by 27% after the company released underwhelming results from its late-stage trial for the obesity drug CagriSema, which resulted in only 22.7% weight loss—short of investor expectations. The disappointing data wiped approximately $125 billion from its market value, as investors had hoped CagriSema would outperform rival drugs like Eli Lilly's Zepbound. Despite the setback, Novo Nordisk plans to initiate a new trial to further investigate the drug's efficacy.
Source: YAHOO