Novo Nordisk’s stock (NYSE: NVO) saw a nearly 5% increase after rival company Eli Lilly reported positive results from a phase 3 trial of an oral GLP-1 weight loss drug, orforglipron. The drug led to an average of nearly 12% weight loss over 72 weeks, lower than expected by many analysts. Despite a positive spin from Eli Lilly’s CEO, Novo Nordisk’s stock benefitted from the news due to the competitive nature of the weight loss drug market. This development highlights the tight competition in the duopoly of GLP-1 weight loss drugs.

Read more at Nasdaq: Why Novo Nordisk Stock Flew Higher on Friday