Novo Nordisk and Eli Lilly rival soars 32% after promising weight-loss drug results

Shares of a Danish pharmaceutical company surged 32% after positive results from a trial of its liver disease treatment, which is also being tested as an obesity drug. The Phase 2 trial of the drug, called survodutide, showed an 83% success rate in treating a form of liver inflammation caused by excess fat cells. The drug is currently undergoing Phase 3 trials for obesity and has fast-track designation from the FDA. Analysts are optimistic about the drug’s potential in the obesity market. The trial also confirmed the safety of the highest dosage being used in the obesity trial.