Novo Nordisk unveiled its latest data for a weight-loss drug candidate, but shares of the maker of Wegovy and Ozempic tumbled as the results missed investors’ expectations and reignited concerns about Novo’s rivalry with Eli Lilly.

Novo Nordisk's CagriSema achieved significant weight loss in phase 3 trials, though safety concerns may limit its edge over existing and pipeline rivals.

By Maggie Fick and Stine Jacobsen LONDON/COPENHAGEN (Reuters) -Shares in Novo Nordisk fell as much as 3.5% on Monday after detailed trial data on its experimental obesity drug CagriSema fuelled investor concerns about its competitiveness against rival Eli Lilly's pipeline.