Novo Nordisk shares plunge 20% after disappointing trial results; Lilly jumps
Shares of Danish pharmaceutical giant Novo Nordisk plummeted roughly 20% on Friday after reporting results in a late-stage trial for its experimental CagriSema weight loss drug that missed expectations.
The maker of the wildly popular Wegovy obesity drug said its new drug candidate helped patients reduce their weight by 22.7%, below the 25% it told CNBC it had previously forecast.