Why Novo Nordisk Stock Got Destroyed Today, but Eli Lilly and Viking Stocks Are Up

Bad news for Novo Nordisk (NYSE: NVO) Friday was good news for Eli Lilly (NYSE: LLY) and Viking Therapeutics (NASDAQ: VKTX), its two main rivals in the field of weight loss drugs. This morning, Novo reported headline results from its phase 3 trial of a new weight loss drug, CagriSema, and while objectively not bad, the results were less great than Novo was shooting for.As of 11:05 a.m. ET, Novo Nordisk stock is down a disheartening 20.8%, while both Lilly and Viking stocks are up 4.4% apiece.Originally designed to treat patients with diabetes, GLP-1 drugs like Novo's Ozempic and Lilly's Zepbound have taken on a new role in society as the go-to treatment for obesity, and for easy weight loss, generally. Novo was hoping to expand its lead in this market with its new offering, CagriSema, which fortifies the semaglutide ingredient in Ozempic with an amylin-focused drug that also aims to decrease food cravings. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool