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 weight-loss drug space. This morning, Novo announced topline results from its Phase 3 trial of a new weight loss drug, CagriSema, and while objectively not bad, the results were worse than Novo was aiming for. As of 11:05 a.m. ET, Novo Nordisk stock is down 20.8%, while shares of Lilly and Viking are up 4.4% each. Originally designed to treat diabetic patients, GLP-1 drugs like Novo’s Ozempic and Lilly’s Zepbound have taken on a new role in society as a go-to treatment for obesity and for easy weight loss in general. Novo hoped to extend its lead in this market with its new offering, CagriSema, which boosts Ozempic’s semaglutide ingredient with an amylin-focused drug that also aims to reduce food cravings. Continue readingMore articles on MotleyFool More articles on MotleyFool