In other news, Novo Nordisk announced the results from its phase 3b STEP UP semaglutide trial today. Specifically, the company said semaglutide 7.2 milligram (mg) injections over a 72-week period resulted in an average weight loss of 20.7%, better than the 17.5% weight loss achieved in a prior trial of semaglutide 2.4 mg injections.

Novo Nordisk said patients taking a bigger dose of its blockbuster obesity drug lost more weight than those on a lower dose, without experiencing an increase in side-effects.

Novo Nordisk said a higher dose of its drug Wegovy led to greater weight loss in patients during a late-stage trial, but the results fell short of the weight loss achieved with Eli Lilly's rival drug Zepbound,

Danish businesses are concerned about a possible trade conflict with the United States over Greenland, a major lobby group said on Thursday after business leaders, including CEO of obesity drugmaker Novo Nordisk,

Medicare released its next target list of 15 drugs to negotiate prices of, including Novo Nordisk's blockbuster GLP-1 drugs.

Luxury bellwether regains crown as drugmaker slips on concerns it will have to cut weight loss medication prices in US

In the ongoing quest to expand semaglutide’s clinical pedigree and cement the GLP-1's market position, Novo Nordisk is rolling out new data on a higher-dose injection in obesity. | In the phase 3b STEP UP study,

Wegovy, the weight-loss brand of semaglutide, has a recommended maintenance dose of 2.4 mg. Novo ran the Phase III STEP UP trial to evaluate the effect of increasing the maximum dose to 7.2 mg. The trial randomized 1,407 adults with obesity, but not diabetes, to receive either 7.2 mg or 2.4 mg of semaglutide or placebo.

Novo Nordisk's shares plummeted due to disappointing trial results for CagriSema, with patients achieving only 22.7% weight loss versus the anticipated 25%.

The technical picture worsened for Eli Lilly stock in December as it completed a pattern known as a “Death Cross”. This pattern is drawn when a stock’s 50-day moving average breaks below its 200-day moving average. A Death Cross typically forecasts another 4-6 months of selling pressure for a stock.

Health-care companies fell as traders rotated out of a sector likely to face more regulation. President-elect Donald Trump is set to give Robert F. Kennedy Jr., his pick as Health and Human Services Secretary, broad powers to change the U.S. health-care system and medical norms.