health
February 23, 2026
Novo Nordisk sinks 15% after weight loss drug fails to match Eli Lilly's in trial
Novo Nordisk stock fell 15% Monday after it said its next-generation weight loss drug didn't meet its primary target.
TL;DR
- Novo Nordisk's next-generation weight loss drug, CagriSema, did not meet its primary goal of demonstrating non-inferiority to Eli Lilly's tirzepatide.
- CagriSema achieved 23% weight loss compared to 25.5% for tirzepatide in an 84-week trial.
- Novo Nordisk's stock fell over 15%, hitting a multi-year low following the announcement.
- Eli Lilly's tirzepatide is the active ingredient in its successful drugs Mounjaro and Zepbound.
- Novo Nordisk CEO Mike Doustdar expressed continued belief in CagriSema's efficacy despite the trial results.
- Analysts question CagriSema's commercial viability and suggest Novo Nordisk may need to pursue mergers and acquisitions.
- Novo Nordisk recently projected a decline in sales and profit growth for 2026 due to competition and pricing pressures.
- Competition from compounding pharmacies selling copycat versions of semaglutide has also impacted Novo Nordisk's sales.
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