Novo Nordisk and Eli Lilly rival soars 26% after promising weight-loss drug results

Shares of Denmark’s Zealand Pharma surged 26% after successful results were announced for its liver disease treatment, survodutide. The drug is also being tested as a treatment for obesity. The Phase 2 trial showed positive results for a form of liver inflammation caused by excess fat cells. Zealand Pharma is currently conducting Phase 3 trials for obesity treatment. The drug has received fast-track designation from the FDA. Analysts are optimistic about the drug’s potential in the obesity market. Zealand Pharma’s shares rose by 26%. Boehringer Ingelheim is funding and running the clinical development of survodutide.