01:53 PM EST, 02/23/2026 (MT Newswires) -- (Updates with Novo Nordisk's ( NVO ) latest stock price movement in the headline and the first paragraph, and Eli Lilly's ( LLY ) latest share movement in the last paragraph.)

Novo Nordisk ( NVO ) shares were down nearly 16% in recent Monday trading after the company said its weight-loss treatment CagriSema failed to achieve the primary endpoint of demonstrating that it wasn't inferior to Eli Lilly's ( LLY ) tirzepatide in a late-stage Redefine 4 study.

Patients using the company's combination therapy recorded a 23% weight reduction over 84 weeks compared to a 25.5% decrease for those taking tirzepatide, the company said.

The experimental treatment was generally well-tolerated with mild to moderate gastrointestinal issues representing the most common side effects, Novo said.

The drugmaker expects a United States regulatory decision by the end of this year based on previous studies, while preparing to launch new trials for higher dosage levels, it said.

Shares of Eli Lilly ( LLY ) were up 4.4% in recent trading.

Price: 39.88, Change: -7.55, Percent Change: -15.91