Novo Nordisk, Zealand Pharma jump after Eli Lilly weight-loss data

Shares in Danish drugmakers Novo Nordisk NOVOb.CO and Zealand Pharma ZELA.CO rise around 10% and 7%, respectively, after peer Eli Lilly's LLY.N weight-loss pill data fell short of expectations

Lilly's weaker pill data helps restore investor confidence in Novo's obesity lead, easing fears of an imminent threat to Wegovy's dominance and pricing power, Nordnet analyst Per Hansen has said

Up to the previous session's close, Novo and Zealand shares had lost more than half their value since the start of the year

Shares in Gerresheimer GXIG.DE, maker of injector pens for Wegovy and Zepbound, also rise 4.7%, as weaker oral pill data points to sustained demand for injectable obesity treatments

If gains hold, Novo shares will see their biggest one-day rise in two years