Obesity Drug Cuts Heart Risk, Boosting Novo and Lilly Shares (3)

Novo Nordisk A/S’s blockbuster obesity medicine Wegovy reduced the risk of heart attacks and strokes in a highly anticipated study, buoying shares of the Danish drugmaker and the US maker of a potential rival treatment, Eli Lilly & Co.

People with obesity or overweight and a history of heart issues taking the Novo drug were 20% less likely to suffer a cardiovascular event than those who took a placebo, the Danish drugmaker said on Tuesday.

WATCH: A Novo Nordisk weight loss drug is shown to help reduce the risk of a heart attack.

Source: Bloomberg

The stock jumped as much as 16.7%, the biggest intraday gain in more than two decades. That lifted the market value to $413 ...