Eli Lilly, Novo Nordisk slip after Roche reports weight loss pill data

Shares of Eli Lilly (LLY) are down nearly 4% to $908.23 in early trading, while those of rival Novo Nordisk (NVO) are down about 4% in New York trading as well, after Genentech, a member of the Roche Group (RHHBY), announced topline results from two arms of an ongoing multi-part Phase I clinical trial for CT-996, an investigational, once-daily, oral small molecule GLP-1 receptor agonist being developed for the treatment of both type 2 diabetes and obesity. The data showed that treatment with CT-996 in participants with obesity and without type 2 diabetes resulted in a clinically meaningful placebo-adjusted mean weight loss of 6.1% within four weeks, according to the company, which noted that the full study data will be presented at an upcoming medical meeting.