1532 GMT - Novo Nordisk's American depositary receipts fall sharply after U.S. rival Eli Lilly said an experimental weight-loss pill met its goals in a pivotal study by helping diabetes patients lower blood sugar and even reduce weight. The Danish market is closed Thursday, but Novo Nordisk's ADRs--securities that are effectively a way for U.S. investors to buy stakes in foreign companies--drop 6.9% to $58.51, trading at levels last seen in late 2022, having lost nearly a third of their value since the start of the year. The results are pretty much a best-case scenario for Eli Lilly on weight loss, blood sugar control, tolerability and safety, analysts at Bank of America say in a research note. Eli Lilly shares jump 14%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 17, 2025 11:32 ET (15:32 GMT)
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