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Analysis-Novo's stumbles burnish Lilly's widening lead in weight-loss drugs [Yahoo! Finance Canada]

Eli Lilly and Company (LLY) 
Last eli lilly and company earnings: 4/23 06:25 am Check Earnings Report
US:NYSE Investor Relations: investor.lilly.com
LONDON, Feb 24 (Reuters) - With U.S. arch rival Eli Lilly streaking away on weight-loss prescriptions and valuation, the last thing Novo Nordisk needed was to give it a helping hand. Then came the latest trial data for the Danish company's ?next-generation obesity drug. Novo unveiled late-stage trial data for its CagriSema drug on Monday that not only showed it underperforming Lilly's rival Zepbound, but appeared ?to show weight loss with Zepbound was better than even some of Lilly's own data had shown. Novo's shares tanked 16% while Lilly jumped 5% as the trial data raised doubts about the Danish ?company's obesity drug pipeline and ability to claw back ground that it has lost in recent years as competition in the market has hardened. "They literally ran a trial that said that Lilly's product is better," said BMO Capital analyst Evan Seigerman, adding that even with more trials ahead, it would be tough to win over investors after twin misses with CagriSema in just over a year. Show less Read more
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